MASTER 

NEGATIVE 
NO.  94-821 08 


2 


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Author 


Palmer 


J 


Joseph  Howard 


Title 


A  treatise  on  practical 

book-keeping  and... 

Place: 

New  York 

Date: 

1884 


MASTER    NEGATIVE    # 


COLUMBIA  UNIVERSITY  LIBRARIES 
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P181 

MONTGOMERy    Palmer,  Joseph  H[Oward] 

A  treatise  on  practical  book-keeping  and  business 
transactions ;  embracing  the  science  of  accounts  and  their 
extensive  applications  ...  By  Joseph  H.  Palmer  ...  50th 
ed. — rev.  A  Schedule  of  stamp  duties  appended.  New 
York,  Sheldon  and  company,  18G7. 

8,  172  p.  incl.  illus.,  forms.     W^, 


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MAIN  ENTRY:    Palmer.  Joseph  Howard 


A  treatise  on  practical  book-keeping  and 


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A   TREATISE 


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PRACTICAL    BOOK-KEEPIIG 


AND 


BUSmESS  TRAiq-SAOTIOE-S 


EMBBAOINO 


THE    SCIENCE   OF   ACCOUNTS 


AND  THEIE  EXTENSIVE  APPLICATIONS. 


DESIGNED  FOR 

Commercial  Classes  in  Schools,  Academies,  and  Colleges 

By  JOSEPH  H.  PALMEE,  A.  M., 

COLLEGE    OF    THE    CITT    OP    NEW    YORK. 


F'iftieth      Edition— Revised. 
A    SCHEDULE     OF    STAMP     DUTIES     APPENDED. 

NEW    YORK: 

SHELDON  AND  COMPANY,  Publishers, 
s  m;xjrray  sxbjeet. 

1884. 


il 


BOOKnkEEPING. 


I 


k  COMMEKCIAL  CODESE  ADAPTED  TO  SELF-INSTRUCTION. 

J.   Tatmer>s  Treatise  on  Tracticat  Sook-keeping i 

embracing  Single  and  Double  Entry,  and  a  concise  Treatise  on  Business 
Affairs.    Price  $1.00. 

II.  Key  to  Palmer's  Sook-keeping  i  embracing  all  the 
Joumll  and  Ledger  Entries,  Trial  Balances,  Balance  Sheets,  etc  Price 
15  cents. 

BLANK  ACCOUNT  BOOKS  FOR  PRACTICK 
These  are  four  in  number,  each  containing  50  pages,  in  large  quarto 
size  properly  ruled  and  adapted  to  the  exercises,  with  full  instructions, 
definitions  and  directions,  interspersed  with  oral,  slate  and  black  board 
practice,  remarks,  questions  for  review,  etc.,  etc.  Each  number  50  cents. 
JVo  /.  Single  Bntry  jiccount  Sooks,  with  Instructions- 
Accounts  taken  from  one  page  to  another-Closing  Accounts  which  show 
a  gain  or  loss,  etc. 

JVo.  2.  double  Entry  l>ay  jgoolr.-Definitions- Accept- 
ances-Notes—The  most  frequent  Transactions  in  Business— Opening  a 
new  Day  Book— Continuation  after  Balancing— Books  of  Original  Entry, 

etc.,  etc.  ^  .,.  ^       T> 

JVo.  S.  double  Entry  ^owma/.- Definitions-Initiatory  Prac- 

tice-The  Principles  concisely  stated— Analysis-Order  of  Exorcises,  etc. 

JVo.  Ji..  Double  Entry  Zedger.-PmcWcQ  in  making  ledger 
Entries-Opening,  Conducting  and  Closing  Accounts-Trial  Balances- 
Balance  Sheets— Closing  and  Re-opening  Accounts,  etc.,  etc. 

This  series  will  be  sent  by  the  publishers  for  examination,  and  posUge 
paid,  on  receipt  of  price. 


Entered,  according  to  Act  of  Congress,  in  the  year  1867, 

By  JOSEPH  n.  PALMER, 

In  the  aerk's  Office  of  the  District  Court  of  the  United  States  for  the  Southern 

District  of  New  York. 


PREFACE 


A  MEMORANDUM  of  transactions,  with  names  and  dates,  is  properly 
called  Book-keeping.  Its  form  and  fulness  will  depend  upon  the 
nature  and  extent  of  the  business. 

Any  class  of  business  men—the  merchant,  for  example — usually 
requires  some  differences  in  matters  of  detail ;  but  the  general  princi- 
ples of  book-keeping,  like  those  of  arithmetic,  are  followed  alike  by 
all,  and  take  the  form  of  general  rules  or  directions.  The  young 
candidate  for  business  should  become  familiarly  and  practically 
acquainted  with  these  principles,  as  they  constitute  a  sort  of  common 
'ground  for  all  book-keepers  and  merchants.  Whatever  is  peculiar  in 
any  business  will  then  be  readily  understood,  and  all  matters  of  de- 
taa  properly  arranged.  Our  book,  therefore,  contains  an  arrange 
ment  of  these  principles,  with  exercises  upon  them. 

The  exercises  are  arranged  to  have  the  learner  close  and  reopen 
accounts  several  times,  in  order  to  secure  a  practical  acquaintance 
with  the  whole  routine  of  book-keepmg.  There  are  but  few  princi- 
ples involved,  and  each  is  numbered  in  an  article  by  itself.  Every 
transaction  in  double  entry  is  referred  to  one  of  these,  which 
governs  the  class  of  which  it  is  an  example,  and  explains  the  natun- 
^f  the  principles  involved. 
An  account  exhibits  the  final  arrangement  of  transactions ;  and  iu 


PREFACE 


MW 


'i  I 

II  ! 


the  simplest  kind  of  book-keeping  no  other  record  is  kept.  When 
the  hnsiness  becomes  more  extensive,  a  day-book,  journal,  and  ledger 
are  kept,  but  the  several  amounts  are  carried  finaUy  to  the  same 
column  in  the  same  account  as  in  the  simplest  case.  And  for  this 
reason  we  begin  by  teaching  the  object  and  office  of  every  kind  of 
account.  The  book-keeping,  the  blank  account-books,  and  the  key, 
are  designed  to  supply  the  District  School  and  the  Academy  with  all 
the  preparatory  training  necessary  for  business-all  that  is  distinctive 

in  a  "  CJommercial  College." 

The  merchant  not  only,  but  the  lawyer,  the  physician,  the  farmer, 
the  day-laborer,  the  house-keeper-indeed  every  one  who  receives  and 
pays  out  money-should  keep  a  systematic  record  :  it  is  but  the  appli- 
cation of  arithmetic  and  writing  to  practical  purposes.    "  The  phi- 
losophy which  affects  to  teach  us  a  contempt  of  money  does  not  run 
very  deep  *  *  »  for  if  we  take  account  of  the  virtues  with  which 
money  is  mixed  up,-honesty,  justice,  generosity,  charity,  frugality, 
forethought,  self-sax^rifice-and  their  correlative  vices,  it  is  a  knowl- 
edge which  goes  near  to  cover  the  length  and  breadth  of  humanity ; 
and  a  right  measure  and  manner  in  getting,  saving,  spending,  giving, 
taking,  lending,  borrowing,  and  bequeathing,  would  almost  argue  a 

I.)erfect  man." 

The  prosperous  condition  of  any  business  must  depend  upon  the 
discrimination,  discretion,  prudence,  decision,  firmness,-common- 
sense  of  the  manager  himself.  These  qualities  well  developed,  and 
united  in  the  same  person,  amoimt  almost  to  wisdom  itself. 

A  subject  which  comprehends  so  much  of  material  prosperity  is 

also  important  to  woman  ;  for  she  often  has  quite  as  much  to  do  in 

Loney  saving  and  money  spending  as  man.     A  judicious  mother 


I 


PREF  A  CE. 


will  kee})  an  account  of  her  houseliold  expenses,  and  teacli  her 
children  to  keep  an  account  of  the  moneys  given  them  and  ex})ended 
by  them.    Thus : — 


EMILY'S  ACCOUNT-BOOK. 


18— 
January 


it 


»t 


ft 


it 


tt 


1 

2 

it 

3 


Received  from  Father  .     . 

3  yards  of  ribbon  at  18  cts.  each 

1  pair  of  gloves 

2  handkerchiefs  at  25  cts.  each 
1  **  "  63    "      . 
1  pair  of  sleeve-buttons 


•    •     • 


Ri 

50*  D. 

Paid. 

$ 

cts. 

$ 

cts. 

3 

50 

0 

54 

0 

75 

0 

50 

0 

63 

0 

75 

The  principal  of  a  female  seminary  was  once  addressed  by  the 
father  of  one  of  the  pupils,  who  wished  to  know  how  his  daughter 
could  spend  so  much  money  ;  and  intimated  the  necessity  of  with- 
drawing her  from  the  school.  The  principal  replied  that  he  really 
did  not  know ;  but  for  the  future,  he  would  teach  her  how  to  keep 
an  account  of  her  pin-money,  and  the  account  should  be  forwarded  to 
him.  The  daughter  kept  an  account  of  her  expenses,  and  sent  it  to 
her  father,  who  was  so  pleased  that  he  gave  her  double  the  amount 
for  the  next  term. 
The  following  statement  is  made  by  Dr.  Franklin  :— 
"  In  1733  I  sent  one  of  my  journeymen  to  Charleston,  South  Caro- 
lina, where  a  printer  was  wanting.  I  furnished  him  with  a  press  and 
letters,  on  agreement  of  partnership,  by  which  I  was  to  receive  one- 
third  of  the  profits  of  the  business,  paying  one-third  the  expenses. 
He  was  a  man  of  learning,  but  ignorant  in  matters  of  account ;  and 
though  he  sometimes  made  me  remittances,  I  could  get  no  account 
trom  him,  nor  satisfactory  state  of  our  partnership  while  he  lived. 


PREFACE. 


On  his  flecease  tlie  business  was  continued  by  his  widow,  who,  being 
bom  and  bred  in  Holland,  where,  as  I  have  been  informed,  the  knowl- 
edge of  accounts  makes  a  part  of  female  education,  not  only  sent  me  as 
clear  a  statement  as  she  could  find  of  the  transactions  past,  but  con- 
tinued to  account  with  the  greatest  regularity  and  exactness  every 
quarter  afterwards,  and  managed  the  business  with  such  success  that 
she  Dot  only  reputably  brought  up  a  family  of  children,  but  at  the  expi- 
ration of  the  term,  was  able  to  purchase  of  me  the  printing-house,  and 
establish  her  son  in  it.  I  mention  this  affair  chiefly  for  the  sake  of  rec- 
ommending that  branch  of  education  for  our  young  women,  as  likely 
to  be  of  more  use  to  them,  and  their  children,  in  case  of  widowhood,  than 
either  music  or  dancing ;  by  preserving  them  from  losses  by  imposi- 
tion of  crafty  men,  and  enabling  them  to  continue,  perhaps,  a  profit- 
able mercantile  house  with  established  correspondence,  till  a  son  is 
grown  up  fit  to  undertake  and  go  on  with  it,  to  the  lasting  advan- 
tage and  enriching  of  the  family. 

A  knowledge  of  accounts  and  business  affairs  is  always  im- 
portant. It  is  sometimes  one  of  the  most  essential  acquirements 
a  woman  can  possess.  The  settlement  of  an  estate  often  reveals 
a  condition  of  bankruptcy  and  ruin.  Mistakes  in  business  affairs 
often  lead  to  interminable  annoyances,  and  the  loss  of  property 
besides.  At  the  death  of  the  patient,  the  services  of  the  physician 
cease,  but  those  of  the  lawyer  only  just  begin. 

.    THE  AUTHOK. 


n 

w 


CONTENTS. 


^ 


PAOB 

DEFINITIONS ^ 

DAY  BOOK  LEDGER  EXEMPLIFIED ^ 

EXERCISES  IN  SINGLE  ENTRY ^ 

DOUBLE  ENTRY ^^ 

DAY  BOOK  AND  JOURNAL. ^^ 

24 

INDEX. ^ 

LEDGER • ^® 

TRIAL  BALANCE *^ 

BALANCE  SHEET. *^ 

EXERCISES  FOR  THE  STUDENT ^ 

COMMISSION  AND  PARTNERSHIP 61 

BOOKS  OF  ORIGINAL  ENTRY : ^0 

INVOICE  AND  INVENTORY ^9 

ACCOUNT  SALES ^^ 

ACCOUNT  CURRENT ^ 

MERCANTILE  RULES ^ 

RECEIPTS  AND  ORDERS.. ^^ 

PROMISSORY  NOTES ^'^ 

DRAFTS,  INLAND  AND  FOREIGN 98 

SET  OF  EXCHANGE ^^ 

PROTEST ^<^^ 

EXAMINATION  PAPERS ^^^ 

MORTGAGE  OF  LAND ^23 

SATISFACTION  PIECE ^^^ 

POWER  OF  ATTORNEY  TO  SELL  LANDS 182 

ASSIGNMENT  OF  MORTGAGE 185 

PERSONAL  PROPERTY ^87 

BILL  OF  SALE  OF  A  REGISTERED  VESSEL V 139 

SIMPLE  BOND  FROM  ONE  TO  ONE 141 

INETREST   CLAUSE 1*2 

MORTGAGE  OF  GOODS  AND  CHATTELS 1*8 

POWER  OF  ATTORNEY  TO  COLLECT  DIVIDENDS 148 

WILL,  BOTH  OF  PERSONAL  AND  REAL  ESTATE 149 

ASSIGNMENT  TO  PAY  DEBTS 1^5 

ARTICLES  OF  APPRENTICESHIP I5G 

ARTICLES  OF  CO-PARTNERSHIP "^^^ 

GLOSSARY 164 

STAMP  DUTIES ^^^ 


Mwit^-'iawMgwutte 


f. 


TO    THE   STUDENT. 


I 


I.   ORAL   EXEECI8ES   AS   PREPARATOEY   TO   WRITTEN. 

Read  the  first  transaction  of  an  exercise,  define  it,  and  recite  the  princi- 
ples on  which  it  is  to  be  disposed  of.  In  like  manner  take  one  transaction 
after  another,  until  you  complete  the  whole  exercise.  In  single  entry  the 
instructions  precede  every  exercise ;  and  in  double  entry,  marginal  figures 
accompany  every  transaction,  referring  to  a  statement  of  the  object  and 
office  of  such  accounts  as  are  affected. 

II.   SLATE  EXERCISES,  PREPARATORY  TO  THE  USE   OF   BLANKS. 

Write  out  one  example  after  another,  upon  your  slate,  after  the  model 
I  given,  for  practice.  Explain  all  the  principles  and  processes  involved  in  it 
(  In  like  manner  take  one  example  after  another,  until  you  complete  the 
whole  exercise.  Practice  in  this  manner  upon  the  examples  of  an  exercise 
until  you  undei-stand  them  well,  and  can  write  them  with  accuracy. 
Do  not  allow  yourself  to  use  the.  following  blanks  (more  than  to  observe 
their  directions)  until  you  have  become  master  of  every  principle  involved 
in  the  whole  exercise,  and  have  approached  well  nigh  perfection  in  pi-actice. 

III.    BLANK    ACCOUNT    BOOKS    FOR    PRACTICE    NOS.  1,  2,  3  AND  4. 

Write  out  one  exercise  after  another  in  the  blanks,  as  you  have  prepared 
yourself  by  the  oral  and  slate  practice.  You  must  never  copy  an  example 
or  exercise  from  the  slate  or  blackboard  into  these  blanks,  but  rely  entirely 
upon  the  principles  laid  down,  and  the  skill  you  have  previously  acquired. 
You  will  observe  the  minule  directions  upon  the  several  blanks  at  every 
step  of  your  progress,  and  that  the  ruling  agrees  with  your  exercises ;  also 
that  the  books  are  made  to  resemble,  as  far  as  possible,  the  account-books 
in  real  business.  On  arriving  at  this  part  of  an  exercise,  you  may  consider 
that  you  have  fairly  entered  upon  the  Practice  of  Book-Keeping, 

lY.  Write  out  the  smgle  eutry  exercises  in  Account  Book  No.  1  •  the 
Double  Entry  Day  Book  in  No.  2 ;  the  Journal  in  No.  3 ;  the  Ledger  in 
No  4. 


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PRACTICAL  BOOK-KEEPIXG. 


DEFINITIONS GOVERNING  PRINCIPLES EXEECI8E8. 

What  is  Book-keeping  ?     What  does  it  teach  ? 

Book-keeping  is  the  Science  of  Accounts.  It  teaches 
to  record  and  classify  transactions  or  dealings  in  a 
manner  to  be  readily  referred  to,  and  easily  understood. 

What  use  is  made  of  a  Day-Book  and  Ledger  ? 

A  Day-Book  is  used  as  a  daily  record  of  transactions, 
and  a  Ledger  is  used  to  classify  and  arrange  these 
transactions  into  separate  collections,  called  Accounts. 

What  is  an  Original  Entry  ?     What  is  Posting  ? 

An  Original  Entry  is  the  Jirst  written  entry  or  memo- 
^  randum  of  a  transaction.     Posting  is  the  art  of  making 
entries,  under  their  proper  titles,  in  the  Ledger. 

What  is  a  Day-Book  Ledger? 

A  Day-Book  Ledger  is  a  book  combining  the  offices 


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of  both  Day-Book  and  Ledger;   it   is  also   a   book  of 
original  entry. 

What  are  a  person's  Debits  and  Credits  1 

Sums  which  a  person  owes  are  his  Debits;  and  sums 
wliich  are  owing  to  him  are  his  Credits.  Both  are 
posted  under  his  name,  making  an  Account  with  him. 

How  are  Debits  and  Credits  distinguished  in  an  Account ! 

Debits  are  preceded  by  the  word  "  To,"  and  entered 
in  the  debit  side,  marked  Dr. ;  Credits  are  preceded  by 
the  word  "  By/'  and  entered  in  the  credit  side,  marked 
Cr. ;  thus  : — 


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Give  an  example  in  reading  Ledtrer  Entries 

Apr.  10,  18  .  Geo.  Wilson  is  in  debt  to  me  for  10 
bushels  of  oats,  at  31^  cents  a  bushel.  Apr.  15.  Geo. 
Wilson  is  in  credit  ly  me  for  3  days  making  fence,  at 
62^  cents  a  day. 

When  and  how  is  an  Account  with  a  person  closed  ? 

An  Account  witli  a  person  is  closed  at  settlement, 
by  entering  the  Balance,  or  difference  between  the 
Debits  and  Credits,  in  the  side  of  the  less,  thus  makincj 
them  equal,  footing  up  the  columns  and  drawing 
parallel  lines  under  their  totals. 

Give  an  example  where  the  balance  is  in  our  favor. 

Suppose,  at   settlement,  (see   above,)  we  found  that 


PBAOTICAL  EXERCISES. 


Geo.  Wilson's  Debits  amount  to     .     .    .     .$11-40 
"  «       Credits      "  .... 


4 -871 


Here  the  Balance  is  found  to  be $6  •  52  J 

and  in  our  favor,  because  he  owes  us  more  than  w^e  ow^e 
him.  If  the  Credits  were  greater  than  the  Debits,  then 
the  Balance  would  be  in  his  favor. 


EXERCISE  I 

Farmer's  Transactions. — Practice  in  Book-keeping — The  Student 

a  Farmer, 

Example  I. — Apr.  10th.  Sold  Geo.Wilson,  on  account,*  10  bushels 
oats,  at  3 He.  15th.  We  owe  him  for  three  days  making  fence,  at  62^. 
Aug.  6th.  Sold  him  on  account,  8  bushels  wheat,  at  87ic.  ;  and 
6  bushels  potatoes,  at  25c.  Nov.  25th.  We  owe  him  for  4  days  chop- 
ping wood,  at  75c.  28th.  Settled,  received  the  balance,  and  gave  a 
receipt. — Required  to  open  and  close  the  account, 

Ex.  2. — June  12th.  Sold  Charles  Crawford,  on  account,  5  bush- 
els corn,  at  50c.  25th.  2  bushels  wheat,  at  94c.  July  10th.  We  owe 
him  for  8i  days  hoeing  corn,  at  50c.  Sept.  18th.  For  12  days  plow- 
ing, at  50c.  Also,  Oct.  r2th,  for  9  days  husking  corn,  at  50c.  Nov. 
20th.  Paid  the  balance,  and  took  a  receipt. — Required  to  open  and 
close  the  account, 

Ex.  3.— Sept.9th.  Wm.Dayhasbeencuttingcorn  for  me  4  days,  at 
62ic.  ;  Sept.  20th,  he  takes,  on  account,  6  bushels  potatoes,  at  21c., 
and  10  bushels  corn  in  the  ear,  at  25c.  Nov.  11th.  He  has  been 
drawing  wood  for  me  3  days,  at  50c.  25th.  He  has  been  digging 
potatoes  for  me  8  days,  at  62|c.  I  have  delivered  to  him  1  load  of 
pumpkins,  at  $1.50  ;  pastured  his  cow  3  months  at  75c.  28th  Paid 
him  the  balance  at  settlement,  and  took  a  receipt. —  Required  to  open 
and  close  the  account, 

Ex.  4. — Sept.  8th.  Sold  George  Summers,  on  account,  10  bushels 
potatoes,  at  25c.  ;  20  bushels  oats,  at  28c.  20th.  8  bushels  corn,  at 
50c.  ;  8  lbs.  butter,  at  16c.  25th.  2  bushels  apples,  at  25c.  ;  2  piers,  at 
$2.50.  Oct.  10th.  We  owe  him  for  3  months  work,  at  $12.00. 
Settled  and  paid  the  balance. — Required  to  open  and  close  the  account. 

Ex.  5. — Apr.  20th.  Warren  Armstrong  mends  our  wa^on  for 
$1.25.  25th.  We  plow  his  garden  for  75c.  28th.  He  repairs  oui 
barn  doors,  for  $3.50,  and  we  charge  him  with  2i  bushels  wheat,  at 
90c.  May  1st.  He  repairs  our  wood-house,  for  which  ho  charges 
us  $6.75 ;  we  charge  him  with  5  bushels  potatoes,  at  25c.,  and  5  fbs. 
butter,  at  20c.  June  25th.  He  has  us^d  our  horse,plowing  corn  3 
days,  at  30c.  July  20th.  We  owe  him  for  5  days  making  garden- 
fence,  at  $1.25;  and  he  owes  us  for  6  days  teamwork,  at  $1.50 
*  The  phrase,  "  On  Account,"  here  denotes  that  payment  is  not  made  at  the  time. 


T 


-J 


25th.     Paid  the  balance  due  at  settlement. — Required  to  open  and 
close  the  acccunt 

EXERCISE  II. 

MfiCHANn's  Transactions. — Practice  in  Book-keeping — The  Student 

a  Mechanic. 

Example  1.—- January  3d.  Made  for  Samuel  Taylor,  1  pair  coarse 
boots,  at  $2.50.  lOih.  2  pair  of  girls'  shues,  at  75c.  Feb.  12th. 
Mended  his  coarse  boots,  87c.  15th.  Received  from  him,  $3.50  on 
account.  March  8th.  Matie  for  him,  1  pair  ladies'  slippers,  at  75c., 
and  received  of  him  5  bushels  of  pie-apples,  at  45c.  20th.  Paid  him 
the  balance  at  settlement,  and  took  a  xece'i^i.— Required  to  oven  and 
close  the  account. 

Ex.  2.— May  1st.  Set  2  horse-shoes  for  Edwin  Stephens,  at  12ic. 
9th.  Mended  1  trace-chain  for  him,  6c.  12th.  Mended  1  log-chain 
for  him,  6c.  June  2d.  Set  2  wagon-tires,  at  75c.  20th.  Set  4 
horse-shoes,  new,  at  30c.  July  18th.  Received  the  balance  at  set- 
tlement, and  gave  a  rece'i^i,-^  Re  quired  to  open  and  close  the  account, 

Ex.  3.— March  10th.  Made  1  dress-coat  for  Wm.  Davis,  at  $25.00. 
15th.  Made  him  1  pair  fine  pants,  $8.50.  20th.  Made  him  1  satin 
vest,  $4.00.  Received  of  him  on  account,  $15.00.  Made  him  3  pair 
cotton  drawers,  at  75c.  Apr.  3.  Made  for  him,  2  pair  boys'  pants, 
at  $1.50.  20th.  Made  him  2  coats,  for  boys,  at  $2.50.  25th.  Re- 
ceived the  balance  at  settlement,  and  receipted  the  stime.— Required 
to  open  and  close  the  account, 

Ex.  4.— Sept.  5th.  Made  for  Andrew  Perkins,  6  chairs,  cane 
seats,  at  $1.30;  also,  1  French  bedstead,  $6.75.  15th.  Received 
of  him  on  account,  $5.00.  Oct.  15th.  Made  for  him,  1  mahogany 
sofa,  $28.00;  and  received  on  account,  $30.00.  Dec.  10th.  Made 
for  him,  1  (lining-table,  $16.00,  and  1  rocking-chair,  $6.00.  Jan.  3d. 
Made  for  him,  1  small  arm-chair,  $3.00.  13th.  Settled,  and  received 
payment. — Required  to  open  and  close  the  account, 

EXERCISE  III. 

Gain  and    Loss   Transactions.— Prac/tce   in   Book-keeping— The 

Student  a  Jobber,  or  Speculator. 

iS^RuLE.— Outlays  are  Debits— Returns  are  Credits*— Balance  is  eitlxer 
Gam  or  Loss,  and  must  be  entered  on  the  less  side. 

Example  1.— "David  Smith's  Barn  Account."— Our  first  on t- 
lay,  Aug.  5th,  was  for  lumber,  9,500  feet,  at  $7.50  per  1,000.  20th 
Received  from  Mr.  Smith  our  first  returns  in  the  job,  $100  in  cash. 
Sept.  10.  Paid  for  carpenter's  work,  $65.39.  11th.  Paid  the  ma- 
sons $18.50.  20th.  Received  from  Mr.  Smith,  the  balance  due  me 
on  the  job,  ^{^0.00. —Required  the  gain  or  loss  in  the  form  of  an  ac- 
count, 

♦The  terms.  Debit  and  Credit,  orijrini.lly  limited  to  accounts  with  persons,  are 
now,  by  analopv,  extended  to  every  account  in  ihe  Ledper.  In  all  accounts  except  ihuse 
wnh  persons,  these  terms  are  only  used  to  distinguish  one  side  of  the  account  from  the 


I 


Ex.  2.—"  Personal  Property  Account."— May  4tli.  Boun;ht 
3  cows,  at  $18.00.  10th.  Sold  1  cow,  for  $25.00.  11th.  Bought  5 
horses,  at  $G5.00  ;  1  lumber-wagon,  for  $100.00.  15th.  Sold  3  horses, 
at  $94.00;  sold  1  Imnber-wagon,  for  $140.00.  24th.  Sold  2  horses, 
at  $100.00;  sold  2  cows,  at  $12,00,— Required  the  gain  or  loss  in  the 
foi^m  of  an  account, 

Ex.  3.—"  Merchandise  Account."— Aug.  1st.  Bought  60  yards 
satin,  at  $1.75  ;  80  yards  broadcloth,  at  $3.25.  2d  Sold  GO  yards 
satin,  at  $1.50;  40  yards  broadcloth,  at  $3.75.  3d.  Sold  40  yards 
broadcloth,  at  $2.75 ;  bought  200  yards  silk,  at  94c.,  and  sold  it  the 
same  day,  at  $1.10. — Required  as  before. 

Ex.  4.— "Rkal  Estate  Account."— Apr.  1st.  Paid  for  house 
'  and  lot  in  Albany,  $5,800.00  ;  also,  10th,  repairs  on  the  same,  $325.50. 
July  10th.  Ileceived  lor  rent,  $345.00.  Aug.  10th.  Paid  taxes,  $28.50. 
Sept.  20th.  Paid  assessment  $13.50.  Oct.  loth.  Received  for  rent, 
$21G.54.  12th.  Sold  the  same,  for  $4,650.00.  The  interest  on  the 
money  we  have  paid  amounts  to  $400.00.  Interest  on  money  received 
as  rent,  $7.50. — Required  as  before. 

Ex.  5. — "  Farm  Account." — Apr.  1st.  On  entering  the  farm,  our 
first  outlay  was  for  30  bushels  oats,  at  25c.  3d.  Bought  10  bushels 
wheat,  at  57c.  20th.  Paid  for  groceries,  as  per  bill,  $12.30.  July 
:  10th.  Paid  for  cloths  and  muslin,  $38.20.  Our  first  returns  from  the 
fiirm  was  i'or  30  lbs.  butter,  at  18c.  Aug.  12th.  Paid  working  hands, 
$16.25.  13th.  Sold  25  lbs.  butter,  at  20c. ;  25  bushels  new  potatoes, 
at  75c.  20th.  45  dozen  green  corn,  at  lOe.  30th.  Paid  cash  to 
working  hands,  $23.50.  Sept.  1st.  Paid  for  provisions,  $25.00. 
10th.  Sold  400  bushels  oats,  at  30c.  loth.  300  bushels  barley,  at  45c. 
20th.  15  tons  hay,  at  $12.50.  Oct.  12th.  150  bushels  apples,  at  25c. 
20th.  300  bushels  potatoes,  at  28c.  25th.  1294  lbs.  cheese,  at  8c. 
28th.  350  bushels  corn,  at  47c.  Nov.  3oth.  Paid  for  clothing  and 
groceries,  $95.32.  Dec.  10th.  Paid  for  blacksmithing,  $14.30;  an;l 
for  sundry  other  expenses,  $34.80.  Paid  our  annual  rent  in  full  for 
the  use  of  the  farm,  amounting  to  $450.00.  Our  own  labor  was  worth 
$125.00. — Required  as  before, 

EXERCISE  IV. 

DIFFERENT  SETS  OP  BOOKS. 
A  set  of  books  comprises  the  several  books  adapted  to 
a  business. 

The  steps  in  each  set  for  practice  are  the  following: — 

1.  Enter  in  the  Day  Book  a  statement  of  tlie  property  and 
debts.  (The  Day  Book  is  now  said  to  be  opened.)  Continue  the 
Day  Book  by  entering  all  transactions  with  persons  07i  account. 

2.  Enter  the  cash  on  hand,  commencing  on  the  Dr.  side  of 
the  Cash  Book.  (The  Cash  Book  is  now  said  to  be  opened  ) 
Continue  the  Cash  Book  by  entering  all  cash  receipts  on  the 
Dr.  side,  and  all  cash  payments  on  the  Cr.  side.  (The  balance 
is  cash  on  hand.) 

<i.  Post  from  the  Day  Book  all  transactions  with  persons, 
writing  the  ledger  page  as  the  check  mark  on  the  Day  Book. 


i 

i  I 


III 


[ 


4.  Make  a  Balance  Sheet  (i.  e.  a  statement  of  property  and 
debts,  gams  and  losses,  and  Present  Worth). 

PRACTICE  IN  BOOK-KEEPING. 

FIRST  SET. 

1.  Jan.  1st   18—.     Began  with  the  property  and  debts  of  a  former 
business,  as  follows :-Cash,  84400.00;   200  bbls.  Flour,  (a\  $7.00 

it^r    ^^ZZr  vf  ^^'  ^^  ^^^''  ^^""'"'^  ®  ^^-^^^  ^^^^  I  owVoeorge 
h,i\y  for  200  bbls.  Flour,  @  $7.00.  ° 

2.  Jan.  2d.    Sold  George  Rayon  account,  100  bbls.  Flour,  (al  $7.50. 

3.  Bought  for  cash  GOO  bbls.  Flour,  @  $7.00. 

o-'^?^^^'^'^'^''  ^^^^''  ''''  account,  25  bbls.  Flour,  @  $7.50  and 

'  \I}'  ^ '  '00. 

5.  Sold  for  cash  600  bbls.  Flour,  @  $7.50. 

6.  Received  of  John  Davis  on  account,  $100.00. 

7.  Paid  George  Ray  on  account,  $200.00.      Net  Gain,  $375.00. 

Da?/  Book,  Set  I. 

Jan.  1st,  18 — . 


Pig«of 
Ledger. 

/. 


/. 


/. 


Cash  invested, 

John  Davis  Dr.  80  hbls.  Flour,  @  $7.50, 

Merchandise,  200  hbls.  Flour,  @  $7.00, 

George  Ray  Or.  200  hbls.  Flour,  @  $7.00,. 

Net  Capital  invested, 


Jan.  2d. 


George  Raij. 

To  100  bbU.  Flour,  @  $7.50, 


li 


John  Davis. 

By  25  66/5.  Flour,  @  $7.50, 
"   25     "         «      @    7.00, 


« 


John  Davis. 

By  Cash,  on  account, 


it 


George  Ray. 

To  Cash,  on  account, 


Dr. 


Ledger,  Set  I. 
John  Davis, 


To  80  66/5.  Flour, 


18— 

1* 

600 

o 

o_ 

Jan. 

i 

2 

By  Flour, 
"    Cash, 


*Page  of  Day  Book. 

6 


Dr,                                         George  Ray,                                        Cr, 

18— 

! 

18— 

Jan. 

2 

To  100  bhls.Flour, 

1 

750 

00  i 

Jan. 

1 

By  200  bhls.Flour, 

1 

1400 

00 

u 

(( 

"   Cash  on  acct., 

200 

JO 

1 

1 

Cask  . 

i    1                   II 

Book,  Set  I.             Dr. 

Cr. 

18—. 

Jan. 

1st, 

ft 

2d, 

it 

if 

ti 

it 

<( 

it 

To  Cash  invested, 

By  600  66/5.  Flour,  @  $7.00, 

To  600  66/5.  Flour,  @  $7.50, 

"  John  Davis,  on  account, 

By  George  Ray,  on  account, 

"    new  account  for  balance  on  hand, . . . 


To  Cash  on  hand. 


4400 

00 

4200 

4500 

00 

100 

00 

200 

00 
00 

4600 

9000 

9000 

4600 

00 


00 
00 

00 


Accounts. 


Balance  Sheet,  Set  L 

Property.  Debts. 


Losses.    Gains. 


Cash,  Dr., 9000.00 

"      Cr,, 4400.00 


John  Davis, Dr.,  600.00 
Cr.,  462..50 


it 


George  Roy,  (7r.,1400.00 
"         "     Dr.,  950.00 


150  66/5.  Flour,  valued 

@$7.25, -; 

Present  Worth, 


4600.00 

137.50 

450.00 

1087.50 

5375.00 

5825.00 

5825.00 

Present  Worth,. . .  5375 
(h^iginal  Capital,  5000 


375 


Remark. — It  vrill  be  seen  that  the 
difference  between  the  property  and 
debts  is  the  Present  Worth,  also,  the 
difierence  between  our  original  and  our 
present  capital  is  our  Net  Gain.  \Vhen 
we  either  purchase,  or  value  our  goods 
on -hand,  at  one  price  and  sell  at  anoth- 
er, the  gain  or  loss  is  apparent. 


SECOND  SET. 

1.  April  10th,  18 — .    Began  with  Cash  $2000.00,  and  I  owe  James 
Rooney  on  account,  for  60  bbls.  Flour,  @  $5.00. 

2.  Bought,  for  Cash,  250  bbls.  Flour,  @  $5.00. 

3.  April  11th.     Sold  Jones  &  Co.  on  account,  100  bbls.  Flour, 
@  $6.00. 

4.  Sold  James  Rooney  on  account,  100  bbls.  Flour,  @  $5.75. 

5.  Received  from  Jones  &  Co.  on  account,  $250.00. 

6.  Bought,  for  Cash,  200  bbls.  Flour,  @  $5.00. 

7.  Bought  of  James  Rooney  on  account,  200  bbls.  Flour,  @  $5.00. 

8.  Sold,  for  Cash,  300  bbls.  Flour,  @  $5.25. 

9.  On  hand  150  bbls.  Flour,  valued  @  $5.00. 

Net  Gain,  $250.00. 


THIRD  SET. 


1 


1.  May  1st,  18 — .     I  invested  in  the  business,   Cash,  S3000.00; 
1000  bu.  Wheat,  valued  @  $1.75.    William  Brown  owes  me  for  125* 
bu.  Wheat,  @  $2.00,  and  I  owe  John   Smith  for  200  bu.  Wheat, 
@  $1.50. 

2.  May  3d.     Bouo:ht,  for  Cash,  500  bu.  AVheat,  @  $1.75. 

3.  Sold  Richard  Roe  on  account,  800  bu.  Wheat,  @  $1.80. 

4.  May  4th.     Sold  Bowman  &  Co.  on  account,  500  bu.  Wheat, 
@  $1.50. 

5.  Received  from  Richard  Roe  on  account,  $700.00. 

6.  Paid  John  Smith  on  account,  $200.00. 

7.  June  1st.     On  hand  200  bu.  Wheat,  valued  @  $1.40. 

Net  Loss,  $155.00. 
FOURTH  SET. 

1.  April  1st,  18—.     Beoran  business  with  Cash,  $1000.00. 

2.  Bought  of  Andrews  &  Co.  on  account,  10,000  Brick,  @  $9.50. 

3.  Paid  Andrews  &  Co.  on  account,  $50.00. 

4.  April  2d.  Bought  of  William  Rogers  on  account,  25  bbls. 
Cement,  @  $3.00. 

5.  Bought  of  John  Anderson  on  account,  20  bbls.  Lime,  @  $2.75. 

6.  April  20th.  Bought  of  James  Pay  well  on  account,  10  bbls. 
Plaster  Paris,  @  $5.75. 

7.  Sold,  for  Cash,  4000  Brick,  @  $11.00,  5  bbls.  Cement,  @  $3.50. 

8.  Paid  ^\'illiam  Rogers  on  account,  $25.00. 

9.  May  5th.     Sold  Thomas   Oliver  on  account,  5  bbls.  Cement, 
$3.50,  and  4  bbls.  Lime,  @  $3.00. 

10.  Received  of  Thomas  Oliver  on  account  $10.00. 

11.  Sold  James  Paywell  on  account,  5000  Brick,  @  $11.00. 

12.  June  2d.     Pai(l  John  Anderson  on  account^  $25.00. 

On  hand,  1000  Brick,  10  bbls.  Plaster  Parisj  15  bbls.  Cement,  16 
bbls.  Lime,  each  valued  at  cost. 

Net  Gain,  $19.50. 

FIFTH  SET. 

1 .  Sept.  1, 18 — .  Brought  property  into  the  business,  as  follows  : — 
Cash,  $500.00;  10  tubs  Butter,  65  lbs.  each,  vakied  @  45c.;  3  boxes 
Cheese,  200  lbs.  each,  valued  @  15c. ;  I  owe  John  IJexter  for  5  tubs 
Butter,  Go  lbs.  each,  @  40c. ;  Henry  Maxwell  for  3  boxes  Cheese, 
each  200  lbs.,  @  UJc. 

2.  Sept.  2(1.  Sold  Thomas  Yermilyea  on  account,  25  lbs.  Butter, 
@  50c.,  12  lbs.  Cheese,  @  17c.,  and  received  on  account  $10.00. 

3.  Sept.  3d.  Sold  Marshall  Redfield  on  account,  45  lbs.  Butter, 
@  54c.,  and  8  lbs.  Cheese,  @  18c.  Received  from  him  on  account, 
$20.00. 

^  4.  Sept.  10th.     Sold,  for  Cash,  100  lbs.  Butter,  @  48c.,  150  lbs. 
Cheese,  @  IG^c. 

5.  Sept.  30th.  Bought,  for  Cash,  2  tubs  Butter,  45  lbs.  each,  (a), 
40c.,  100  lbs.  Cheese,  @  12c. 

6.  Sold  Davis  &  Co.,  for  Cash,  400  lbs.  Butter,  @  50c.,  450  lbs. 
Cheese,  @  15^c. 

7.  On  hand  1 70  lbs.  Butter,  valued  @  45c.  •  80  lbs.  Cheese,  @  12c. 

Net  Gain,  $38.38. 
— 


A  set  of  books  is  kept  by  Single  Entry  where  the 
transactions,  generally,  have  but  07ie  entry  in  tlie  Ledger. 
(Tran.  7,  Set  1,  has  a  double  entry.  V/e  debit  George 
Ray  and  credit  Cash.)  So  long,  however,  as  all  the 
ledger  entries  are  not  double  it  is  called  Single  Entry. 
It  encroaches  upon  Double  Entry  when  we  introduce 
accounts  other  than  those  with  persons. 

Time  Book  and  Pay  Roll. 


N:irrn.3 


Pooitiou. 


Wages.  1  T.  -  'I'. 


G(orqe  Brown,  \ For( man ,18. (jO\  1 

i 

Will  la  m  Da  vis,  \  Lahore?^ ,    12.00   1 


'1'. 

w.  • 

T. 

F. 

s. 

Lesa 

Due. 

1 

0 

1 

1 

1 

3.00 

15.00 

1 

1 

1 
2 

0 

1 

2 

4.00 

8.00 

Signature. 


Memorandum  Booh. 


Jane 


\st, 


Hired  William  Carrigan  to  drive  a  pair  of 
oxen  to  New  York.  $3.00. 

Order  Book. 


June  Sd       Paid 
him,  as  agreed. 


Joseph  Denman,  Sept.  ^th,  18 — . 

1   Walnut  Extension  Table,  IS  feet,  $30.00.     Readi/  Oct.  1st. 

Account  Sales  of  Two  Firkins  butter  for  Account  of 
Henry  Van  Doren^  Newhurgh.,  N.  Y. 


18— 


Jan.  \st. 


it 


Sold  to. 


A.  Potter, 
George  Coe, 


Description. 


Orange  County, 


<t 


<t 


No. 
1 

Lbs. 

Rate. 

67 

40c. 

2 

73 

41c. 

Amount. 


26.80 
29.93— $56.73 


Charges. 

Freight, 1.70 

Commission, 1 .42 


.3.12 


Amount  due  Henry  Van  Doren, $53.61 

The  letters  D.B.,T.B.,  M.,  and  0.  denote  these  books. 

SIXTH  SET. 

New  York,  January  1st,  18 — . 

James  Davidson  and  Charles  Thompson  enter  into  partnership  for 
the  manufacture  and  sale  of  furniture,  under  the  firm-name  of  David- 
son and  Thompson,  investing  and  sharing  equally  as  per  ''Articles 
of  Co-partnership''  (M.). 

James  Davidson  transfers  to  the  new  firm  6   doz.  Dininjr-Room 


Chairs,  @  $42.00 ;  1  Walnut  Table,  $10.00 ;  2  Rocking  Chairs  (31 
^^■■1?'  J.^?°k-Case  $55.00;  2  Walnut  Bedsteads,  ©$60.00;  'a^ 
Cash,  Slo44.00  (D.B.). 

«9?nr'?  J^°Tfn  n.'^I^''*''  \  ^^'^'  ^^^■^^'  1  Rosewood  Table, 
$1500  00  (DB)  Material,  per  Inventory,  $400.00;  and  Cash^ 

January  lOtli,  18 — . 
Hired  store  and  workshop  of  Joseph  Trustful,  @  $400.00  per 
annum  (M.)      Engaged  John  Murray  as  Foreman,  (S  $20.00  per 
week;  Charles  Van  Arsdale,  @  $15.00;  Hugh  Hasson,  @  $15.00; 

I  *;loo  Jtr  \®fT''-^*^^v^H  '^^T^'  ^'•^^°'-^'  Book-Keeper 
®  ^l^'i^  ^^•^•)-  ^^'^"'■>'  ^^"Sht  orders  2  High-Chairs  for  child- 
ren^ @  $4.00,  due  Jan.  25th;  Walter  Kelly  orders  12  Sofa-Chairs 

i™^'j'"''/*L*'-  t^t;  «'"n"el  Smith,  1  Fancy  Walnut  Book-Case,' 
$lo0.00,  due  Feb.  6th  (O.B.).  ' 

January  17  th,  18 — . 
Sold  James  Dudley  on  account,  1  doz.  Dining-Room  Chairs,  $50.00 ; 
irank  Kelly  on  account,  1  Walnut  Table,  $12.00;  Luke  Bucklev 
on  account,  lacking-Chair,  $12.00;  Lucius  Ketchum  on  account, 
i^c'^ai^n^^''^^''  ^Ibert  Smith  on  account,  1  Walnut  Bedstead 
^■??iN      <l'  .P*^Po«ited  in  the  Chemical  Bank,  $2500.00  (D  B 
,  ntjT  ^  **^®  workmen,  no  time  having  been  lost  (T.B.  I 

January  24th,  18—. 
Sold  James  Young  on  account,  1  Bedstead,  $70.00 ;  Francis  Sher- 
man  on  account,  1  Desk,  *40.'J0 ;  Arthur  Banks  on  account,  1  Rose- 
wood Table,  $30.00 ;  Daniel  Wood  on  account,  1  Sofa,  $45.00  (D  B  ) 
James  Dudley  paid  $40.00  on  account;  Frank  Kelley,  $12.00  •  Luke 
Buckley,  $12.00;  Lucius  Ketcham,  $50.00;  Albert  Smith,  $30.00 
{D.B).  Paid  all  my  work-folks  per  Pay-Roll,  no  one  having  lost 
any  tmie  (T.B.).  Henry  Wright  paid  $8.00  for  2  Hicrh-Chairs 
de  ivered  (C.B.  and  O  ).  Samuel  Smith  paid  $70.00  on  account  of 
order  for  Book-Case  (M.). 

January  31st,  18 — . 
Paid  Joseph  Trustful,  by  check  on  the  Chemical  Bank,  1  quarter's 
rent,  $100.00  (D.B.).     Samuel  Smith  has  agreed  to  furnishre  wTth 
4  cords  hard  wood,  @  $5.00,  by  Feb.  5th  (M.).     Michael  Lee  orders 
a  set  ot  Bed-room  iurniture,  $155.00,  due  Feb.  7th  (O  )      He  ad 
vances  on  the  same  $50.00  (D.B.).     Paid  our  workmen,  as  per  Pay- 
Ko  I,  the  amounts  due,  Hasson  having  lost  i  day,  Wednesday,  and 
Gilhnan  1  day  Friday;  Frederick  Chambers  leaves  with  us,  for  sale 
1  Bureau,  1  Mahogany  Table,  and  1  Washstand  (M.).  ' 

February  7th,  18 — . 

^fS^n^'  f^Af^f  ^'  ^  Warren  Carpenter,  on  commission,  1  Bureau, 
$60.00,  1  Mahogany  Table,  $35.00,  and  1  Washstand,  $25.00,  for 

I'fT""'  t  £['n''^'^.  Chambers  (D.B.).  Charges  on  the  s^me. 
Storage,  $0.00  Commission,  $3.00  (D.B.).  Paid  workmen  for  full 
^a?fn  in  I;  ^upphed  all  orders.  Goods  on  hand  per  inventory, 
$900.00.     Iteceived  4  cords  wood  of  Samuel  Smith. 

Net  Gain,  $283.25. 


r 


10 


DOUBLE  ENTRY. ^THE  STUDENT  A  MERCHANT, 


DOUBLE  ENTRY  BOOK-KEEPING. 

DEFINniONS — ^EXEMPLIFICATIONS — ^ANALYSIS. 
When  is  the  name  Double  Entry  applied  to  Book-keeping  ? 

Double  Entry  is  a  name  applied  to  Book-keeping 
where  every  transaction  has  a  double  entry  in  the 
Ledger  ;  (that  is  to  say,  the  sum  of  the  debits  equals  the 
sura  of  the  credits ;)  and  where  the  Balance  Sheet  exhib- 
its a  double  statement  of  the  Present  Worth. 

What  are  Resources  ?     What  are  Liabilities  ? 

Resources  Sire  property  ;  as  cash,  unsold  goods,  other 
men's  notes,  and  also  the  balances  in  our  favor  in  ac- 
counts with  persons.  Liabilities  are  dehts  /  as  our  own 
notes  given,  and  also  balances  against  us  in  accounts 
with  persons. 

What  are  the  principal  books  used  in  Double  Entry  ? 

The  principal  books  used  in  Double  Entry  are  the 
Day-Book,  Journal,  and  Ledger ;  and  when  the  business 
becomes  extensive,  the  original  entries  are  classified,  and 
several  books  are  made  to  supply  the  office  of  the  Day- 
Book. 

In  what  order  are  transactions  to  be  entered  ? 

The  original  entries  are  to  be  made  in  the  Day-Book, 
then  Journalized^  or  entered  upon  the  Journal,  and 
afterwards  Posted,  or  passed  to  the  Ledger.  Further 
definitions  will  be  given  as  we  proceed,  and  also  in  the 
Glossary,  p.  164. 

How  are  fundamental  principles  stated  ?     Why  thus  stated 

We  shall  now  proceed  to  cmalyze  a  "  Set  of  Books^^ 
and  as  we  discover  fundamental  principles,  state  them 
m  a  series  of  Articles,  distinct  from  each  other.  In  so 
doing,  we  shall  present  the  subject  more  clearly  to  the 
student,  avoid  repetition,  and  secure  a  system  of  refer- 
ence from  principles  to  their  application,  and  from  one 
principle  to  another. 


n 


DAY    BOOK. 


©v^^  *^^^i/^  ^^7^^<^J^   ^0,  /a 


Ajtioles. 


4 
7 
3 

9 


8 
9 


21 


3 
4 


Qy^u  ^/Ccri^ou/tce^  ana  ,S£i'at^Ut€'d,  Int^  e/au, 
com7n€'2ict?ia  ou^iti/'^,  ate  aii  Joucyu^^  : 

^a<^A  07i  Aanc/. 0^OO.6O 

^t//^    £^ecettKi^/e/ 600.00 

Q/^ic/ian</Me/ 750.00 

^onn  J^.      /a^K^soTi  (yu^ea  ttie,  <yn  a4> 

coicnl SAO. 50 

O/o^a/  iS^,e<u>€tic€d 

^.;^^    €^ayaW $67.A0 

^m.  ^/^,  o/awe  /itm/ 95.75 

o/o/ac  e^£taOtCiUce^ --- 

Rem  ASK. — Our  Present  Worth  at  any  time  is  equal  to 
the  difference  between  the  Resources  and  Liabilities,  and 
it  is  usually  called 

^loc4 

/J)    __ 

aru/  fiauc  t^n   ^ad^n. 


J^;?/ 


¥6s 


S327 


350 


iO 


/5 


95 


75 


Analysis  of  Prikciples. 

Article  1.  Double  Entry  considers  the  Stock  Com- 
menchhg^  and  exhibits  the  changes  upon  it  by  gains  and 
losses  from  one  period  to  another.  In  every  investment 
the  Outlay  and  Keturns  are  compared,  and  the  gain  or 
loss  discovered.  The  sum  of  all  the  gains,  and  the  sum 
of  all  the  losses  are  next  compared,  when  the  net  gain, 
or  net  loss  is  discovered.  If  this  result  is  a  net  gain,  it 
is  to  be  added  to  stock  commencing,  but  if  a  net  loss, 
subtracted.  The  result  is  called  Stock  Ending^  or  Pres- 
ent Wo7'th,  What  does  Double  Entry  consider,  and  how 
do  you  find  the  Present  Worth  ? 

2.  The  Day  Book,  in  this  chapter  for  the  convenience 
of  the  student,  is  made  to  supply  the  office  of  the  "  Books 
c>F  Original  Entry  "  (Art.  44),  and  must  therefore  be  re- 


~.  J 


12 


iT 


JOURNAL. 


Page  ut 
Ledger, 


32 
30 
36 
41 
35 
45 


30 
29 


28  '  ^a^/i^ 

Soc/c<i    fS^eceivame^ 

Q/Meicnanat-je/ 

/onTt   c^.    ^acn^oTi/ 

"     ^/^m.    e^a^  ... 
f<     ^toc4. 


Remark. — The  Day  Book  and  Journal  are 
Beparate  books.  We  have  arranged  their 
corresponding  pages  opposite  each  other  for 
convenience  in  teaching. 

The  figures  in  the  first  column  refer  to 
the  analysis  of  principles^  and  the  account 
to  which  the  item  is  finally  to  be  taken. 


^00 

6oo 

750 
340 


^2 


350 


60 

00 
00 
50 


75 


67 
95 

23S7 


359 


SO 

75 
95 


75 


garded  as  the  daily  regist<^r  of  Original  Entries.  The 
Accountant  should  experience  no  delay  in  recording  the 
first  history  of  every  transaction ;  and  this  is  done  by 
stating  clearly  every  particular  in  regard  to  it,  as  per- 
sons, articles,  prices,  dates,  etc. 

3.  Merchandise  Account  (pp.30,  31).  On  the  Debit 
side  v^e  enter  the  value  of  goods  on  hand  when  business 
commences,  and  also  the  cost  of  every  additional  pur-i 
chase ;  and  on  the  Credit  side  we  enter  all  Returns  from 
the  sales  of  Merchandise.  The  Gain  or  Loss  is  found 
by  crediting  the  account  with  the  value  of  goods  unsold, 
and  then  taking  the  difference  betw^een  its  Debit  and 
Credit  sides.  If  the  Credit  side  is  the  ^rreater,  there  is  a 
^am,  but  if  less,  there  is  a  Loss.  In  either  case  the  dif- 
enmce  is  added  to  the  less,  which  makes  the  two  sides 


u 


13 


.i 

1 

i\ 


I- 

:1 


'mi     ! 

ill' 
.11 


Q/fi. 


etc/^'^Ucn^j    Yanaaiu  ^3j  ^o 


Artioles. 

4*3 


3*7 


3*8 


3*9 


3*9 


4*7 


&^oui     Q^^c/t^.    ana    tecetveci  ^^a^n    ^    haiA' 

m 

m&rU  amoufUi^  A? . 

/5 

cetT/ea  nt^  nole  atie  I'n ^<Hit  7no'rUn4 ...... 

/^     

k^ouanl  aoociii  o^  y;/^^-  ^^^^y  cif^  aave  Tftu 
note  atie  t7i  dix  TiiOTUn^ 

__ i>/ 

(^o/a  aoocid  to     7y?n.    &a^  on  account 

i>^  

(^ouant  goocCi)  o/   Jf^m.    xyaae  o^  account 

J>J 

£^^^>ett'^  '^a<^n  ojf  yf^uia7}2d  M  t^^.  oti  a 
note  ti^ntcn  Qf  neu/  agat^/itj^t  tney)n  tonen  ^nu 
accounld  ziH>ie  a^i^iea 


370 


iS5 


360 


65 


90 


60 


40 


^6 


S50 


30 


/<# 


75 


equal,  and  is  then  carried  to  the  opposite  side  of  Profit 
.AND  Loss  Account  (pp.  44,  45).  The  goods  unsold,  which 
have  been  credited,  must  be  brought  down  on  the  Debit 
side  as  Merchandise  on  hand  for  the  continuation  of  bu- 
siness. The  Account  is  then  said  to  be  Balanced.  How 
is  Merchandise  Account  opened,  conducted  and  closed? 

4.  Cash  Account  (pp.  '2$^^  29).  On  the  Debit  side  we 
enter  the  amount  of  Cash  on  hand,  commencing,  and 
every  additional  receipt  of  Cash ;  and  on  the  Credit  side 
all  payments  of  Cash.  The  Balance  is  placed  in  the  si.le 
of  the  less  and  then  brousrht  down  on  the  Debit  side,  as 
Cash  on  hand  for  the  continuation  of  buisiness.  How  is 
Cash  Account  opened,  oiindnoted  and  closed? 

5.  Cash,  Bills  Receivable,  Bills  Payable,  and  Per- 
sonal Accounts  are  denominated  Estate  Accounts  ;    all 


14 


G4'em=f^,,  J^r^ y  /J,   /(f       .      ^T,.         <^,. 


30 
29 

32 
31 

30 
41 

34 
31 

30 


^^a^A ,   

q/o  Q/^tcnanoiide/ | 

.  /5  . 

G^u/a   ^^ceti^a6ce/ 

Q/c  Q^^tcnanc^Me/ 

/^  . 


370 


20 


Q/^eicnanoCi^e^ ^ . , . , . 

^m.    e^a^e/ 


235 


370 


BO 


360 


60 


40 


65 


Q^Mezchanoie^e/ 


24 


35           <^o   ^//^m.    e^a^e/, 
25 


28 
33 


26 


30 


235\  60 


360 


40 


65\  30 


Ot^n 


S50 


^i 


96 


■/S 


75 


S50  75 


otliers,  as,  Merchandise,  Eeal  Estate,  Charges,  Interest 
itc,  show  gam  and  loss,  and  are  called  Gain  &  Loss  Ac- 
counts.    What  is  the  basis  of  this  division  ?     (Art.  22  ) 
6.  After  the  debits  and  credits  of  a  transaction  have 
been  determined,  thej  are  usually  entered  in  the  Jonr- 

I'l!  x^^^^'-;  P^-  ^^'  ^^'  1^-)  ^"  '"e^*^'".^  a  transaction,  in 
me  jJay-Look,or  elsewhere,  we  should  ask  oui-selves  the 

toilowmg questions:— Are  either  of  the  Estate  Accounts 
attected,  and  if  so,  on  which  side?  Are  there  any 
Uutlays  or  Eeturns  on  either  of  the  Gain  and  Loss 
Accounts?      Lastly,   see   that   the   sum  of  the  debits 

M^f n.  f  '"""  *^*"  ^^'^  '^'■'''^^^'-  Tlie  phrases,  "  Kew  "  and 
^^w  Account,  serve  to  connect  the  business  throu<^h 
s  successive  periods  of  balancing.     Where  do  we  eli-  i 

'or  debits  and  credits?     How  do  we  find  them  ?     What 


15 


.1: 


H 


'^  \ 


,1 


r' 


Q^m= 


cy 


ly  3^,  /§      . 


1 


i&r  tides. 

S  4  4 


9*  17 

7 


dow  ohem^in^  accou/rUd,  a^nounr^Mia  ^ 

S^e^.   S       . 

(H4^t  aidii^  o7i  nt7?i  Jo9<^ 


^axet) p. SO 

.^/of^ ^j^.50 


^7 


40 


^25 


4&  12 


zyau^    Qfnieteii^ 


i 


on    '}n'u    no^e    qit^en  ^o 


4  All 


<S^//y,  /^^a.  ^ry  /ft.  ^^y 


7 


/^ 


^0 


K^oua/u  ^ti^  /old  a7i  ^Olh,   Q^^nus  aru/  hau/ 


0  "f  50  Jot  eacn. 


54 


SO 


6 


SOO 


25 


is  said  of  New  and  Old   Accounts,  and  how  are  their 
uses  illustrated  ? 

7.  Bills  Receivable  Account  (pp.  32,  33).  On  the 
Debit  side  of  this  account,  we  enter  the  amount  of  other 
meifs  notes  in  our  possession  when  business  commences, 
and  all  subsequently  received  ;  and  on  the  Credit  side  the 
same  notes  as  they  are  severally  disposed  of,  or  pass  oat 
of  our  possession  :  it  is  closed  like  Cash  Account.  How 
is  Bills  Receivable  Account  opened,  conducted  and  closed  ? 

8.  Bills  Payable  Account  (pp.  40,  41).  On  the, 
Debit  side  we  enter  the  amount  of  our  own  notes  when 
redeemed  ;  and  on  the  Credit  side  the  amount  of  all 
which  are  in  circulation  when  business  commences,  and 
all  that  we  subsequently  issue.  The  balance  will  be 
Liabilities  in  our  own  notes   in   circulation,  and  it  is 

1« 


1; 


[oA^er^^foil  Jar^ y  J/.  /^       >      <^e. 


i. 


40 
29 


3-2 
37 


42 

29- 


42 
29 


38 
29 


^i//^  e^aya^fe/ 

^o   ^ati^n. - 

^^  3     — 

^ifi'o   M^tvaW 

6     

^Aaiae^ 

<£/o   ^a^n. 

i 

Q/7Ueieal 

<£/o    ^a4^n 

40       

'at   S^^ldl^ 

^o   ^a^n. 


67 


425 


40\ 


5 A  SO 


r 


25 


67 


425 


54 


40 


SOO 


SO 


25 


SOO 


brought  down  on  the  Credit  side  for  the  continuation  of 
business.     How  is  Bills  Payable  Account  opened,  con-l 

ducted  and  closed  ? 

9.  Personal  Accounts.     These  accounts  are  opened 
with  the  names  of  persons,    banks,    corporations,  and  a 

! consignor's  sales.       On  the  Debit  side  we  enter  their  in- 
debtedness  to  us  ;  and  the  Credit  side  our  indebtedness} 
to  them.     If  the  Debit  side  is  greater  than  the  Credit 
side,  they  owe  us,  but  if  less,  we  owe  them,  and  the  ba-  ^ 
lance  is  therefore  Resources  or  Liabilities,  (pp.  34,  35.)   \ 

10.  Charges  Account  (pp.  42,  43.)  On  the  Debit'i 
side  of  this  Account,  we  enter  such  charges  as  cannot  be; 
considered  as  belonging  to  any  particular  investment,  orj 
such  as  arise  from  several  transactions  collectively ;  and ; 

i  on  tho  Credit  side  returns  of  a  similar  kind.     We  should  1 

t.. ..-^. -* 

17 


/ 


Ik 


M    ' 


fi 


N 


M 


» 


H 


r 


QAeii^=  ^>^4>    Q^e^tumu  ■/ S ,  ^B 


4  *  20   .^^  ^^  /,^^^  ^^^^ 


/5 


iOO 


3*41  ^//  &^,c/Ln^c-:>e /oz   <9'^/. 


3 
4 

7 


^9 


^«^/ '^Z 


400 


S'f 


I 


12 

8 

4 


^ou^dl  o/^/^n,  G^ifa^o^  a  ^ua^UOy  o/^^oc/, 
ayiioiCTUcna  ^o 

<3^ceAta/nce/ ..... 

Ofa/Zoti,  a^t^cou^  on  l4e  Q^cefUance/ 

'^ve  my  o^<,n  Q^oie  ai  J.  nuy,u4^ /o^ { 

€rat<^  i^  ^a/ante  ^n  '^a^4. 


450 
75 


400 

425 
/ 

200 

76\ 


25 


25 


I 


endeavor  to  arrange  all  the  expenses   of  each   invest- 
ment  or  account  under  the  account  itself,  and  we  Ihali 
then  be  better  able  to  determine  its  ne    gain  or  los 
!  How  are  Personal  Accounts,  and  how  is  Charles  Account 
I  opened,  conducted  and  closed  ?  ^     Account 

11.  Real  Estate  Account  (pp.  38,  39).  This  is 
Icrun't"!"'"^'  T'  ^^"^'  '"^''^^^  -  Merchandii 
natu  e  of  our  business  demands,  and  whatever  the  ac- 
credit tTe'i^t .::.  ""'""^'  *^  ^^^^*  *^^  ^^'^^y  -^i 

.ul/f:  ^™^^:;'  Ac<=ount  (pp.  42,  43).     On  the  Debit 
s  de  we  enter  the  amount  of  interest  we  pay  or  allow  to! 
others  ;  and  on  the  Credit  side  all  sums  received  fo  Tnter' 
estoraliowed^^  ^^^l^^A 

~  18  " -'    -^ 


VI. 


44 
29 


28 
31 


28 
32 
81 


30 
42 
33 
41 
29 


^lo/ii  ant/  =5^^.. , 

&o    '^a<tn. 

45        —— 

^S(Z<tn ...... 

q/o    Q^Ceicno/natiie^ 

49        

(3^{.cn^zte<}  lo  Q//(eicna7iai>de/ 

^ad^^ _ 

^tM  ^^^ei'vao/e^ , 

Qyo   Q/^etcnanaio^ ' 

j>/        

G/^^e/ 

Q/'7Uete^l: 

//     ^f//,    €PayaW  ... 
//      ^ad/i, 


soo 


^00 


75 


200 


400 

r  ^5 


400 


225 


425 

200 

76 


25 


13.  In  the  Ledger,  the  Debit  and  Credit  coluams  are 
footed  up,  upon  the  same  horizontal  line,  and  an  ollique 
line  is  usually  drawn  to  fill  up  a  vacant  space  in  either 
column.  The  oblique  line,  the  parallels,  and  the  equal 
totals  indicate  that  the  account  has  been  Balanced  (pp. 
28,  29). 

14.  The  Student  is  now  prepared  to  begin  with  the 
Day-Book  (p.  12),  and  trace  each  entry  to  the  Journal 
on  the  opposite  page,  and  then  to  the  Ledger,  where  it  is 
said  to  be  Posted,  The  Stndent  will  observe  that,  in 
every  entry,  there  is  an  equal  amount  of  Debit  and  Credit 
matter,  as  appears  both  upon  the  Journal  and  Ledger ; 
hence  the  whole  Ledger  contains  as  much  Debit  as  it 
does  Credit  matter,  and  the  same  is  true  of  the  Journal. 
The  Student  should  closely  observe  the  language  of  the 

19 


li 


1*1 


4 

i 


if, 
.if 


: 


«#) 


G4^ez^.'fMiI,   Q//cHcd  5 ,   ^ §       . 


Articles. 
11 

4 


(3ro/d    7^1^  liz^o'  /oU  on   ^e^u/i,     Q/^i^enfiS    al 
0250  eacA. 


500 


S€^//y,    «4/^  Jan.    /6^^4   /c^      ,    ^at;c/  ^ 
4    ^../ _ 


12 

8 


I 


Qfi4/a<t  a/i^otuec^  ^i^coun6 ... 
/J' 


/5  


3  &  9 


• 


S55 

5 

360 


40 
00 
40 


SOO 


3 

8 
4 


on  accoccn^ 


/<^ 


yt-7/en  iG   '^>»^.    Q-^^^on /oP 


^47 


200 
250 


30 


Journal   and   Ledger,  for  each  has  its  peculiar  phrase- 

Olocry.  ^ 

15  The  Ledger.  This  book  contains  a  systematic 
view  of  our  whole  business.  The  transactions  are  so  col- 
Jected  and  arranged,  that  by  referring  to  any  branch  of 

I  our  business,  or  the  name  of  any  person  with  whom  we 
deal,  we  can  at  once  see   a  full  statement  of  each  ac 
count  (pp.  28,  45).     ^yhat  of  the  Led<,^er  ? 
)       16.  "To  Sundries."     This  phrase  indicates  that  there 

/are  two  or  more  credit  items  arising  in  the  same  entry, 
which  must  be  carried  to  the  Ledcrer  under  different  ac- 
counts.     "  By  Sundries,'^  or  "  Sundries,^^  indicates  that] 

■there  are  two  or  more  Debit  items  in  the  same  entry. 

I  One  Item   may  balance  several  others,  which,  taken  to- 

•^gether,  are  equal   to  the  one  item.     AVhen  there  is  but 


G4iu^^%U^,  Q^LU  5,  /(? 


I-- 


28 
39 


/ 


40 
29 
43 


80 
29 


30 
37 


40 
28 
31 


^^a^h 

<^o  ^ea/  OaicUe^ 

7  

^.^  ^/j^/^ 

Q/o  ^a^n 

^^     Q/^Ueie^U 

^2  

QyycetcAanat^e'^ 

<^o  ^a^n .-.--. 

/J  

Q/fletcnanai^e/ s. 

(£^0     fofi'^i  c=S?     /ac»d^n/ 

. 4^ 

(^unc/iie^  lo   Q//te'tcUanc/f.4e/  : 

^.^   €^ayuW 

'^usn. 

q/o  Q/fcetcnanai^ey 


500 


360   40 


300 


/^/ 


200 
250 


30 


500 


355 
5 


300 


40 


447  30 


450 


one  amount;  as  C^sh,  we  say  '^  To"  or  ''  By  Cash,"  bi?t 
when  there  are  more  than  one,  then  the  phrase  ''By"i 
and  '^  To  Sundries"  is  used.     Explain  the  phraseology  of! 
the  Journal  and  Ledger  (p.  19)  (pp.  30,  31).     What  is| 
said  of  ''Sundries"  and  its  compounds?  ' 

17.  If  I  accept  another  man's  draft,  I  promise  to 
pay ;  but  if  he  accepts  my  draft  on  him,  he  promises  to 
pay  me.  Drafts  therefore  are  a  species  of  Bills  Payable 
and  Bills  Receivable  (p.  102).    What  of  Drafts  ? 

18.  When  we  buy  up  other  men's  notes  and  accep- 
tances,  we  are  said  to  discount  them;  and  we  may  noti 
only  discount  other  men's  notes,  but  our  own,  if  we  havej 
any  in  circulation.  When  we  have  notes  discounted  for; 
US  we  receive  an  equivalent,  and  dispose  of  the  note. i 
Discounting  a  Bill,  therefore,  is  paying  the  money  for  it. 


B 


21 


;! 


I 


If    I 

I  =         f 

II   : 


r  * 


I'* 

if 
III 

I 


» 


GA^wJI/o^/i,  Q^/oicd  SS,  /§ 


Articles. 

3 

7 

12 
4 

9 
3 


3 
4 


Q^ou^h^  Q^^/Ceicna^vatr^e  a7noK,?t^€'na ... 

jjCave,   tn  ha'U7}i&rU,     ^^7n.    &a^  4  nols^ 

Q^uotoea  cm'j^cot4r?i^ 

zyuu/  Ine  vacancy  tr?i   ^^a^n. 

24 

(^ata     7r??t.    'tya^,  on  accounl  : 

6  yi/d.    S^.e^u/i  ^wa<^^/od/i.  a^.5.00  f  30.00 
9     ^'      ^a^tmeie  cU.3.00      ^7-00 

7  ^'      ^lerufi    Qioe    (^L'n     ae.9.50       47-50 

^7         

zyata    ^a^n  iat   Q/riieichanc/i^  ad  j£>tc(ni^^  : 

A    S^ty4  400  ^,     (^o^acco  ai: 44    056 

300  /^^j.    ^a/ (Mi^i  ad 4S        36 

6  ^t'l^t^rm  ^uddm,  600  /i(d.    a^ 46        p6 

400C  ^^,    ^fi€e^  a€ 9        90 

Q/^/'j^e.  ^let    2/ni>e?Uaiy ---- 4,500 

Q/rot» Q/ue  y^2<^/    endii^  ttru/ez   Q/^e^.  8 In 

if-nocUa  na^^  ve^Tt  maae  u?taet   ^a?iuazy  34^1 

/^fi.  46y  /''s^id.  27/ 


450 
75 

76" 


74 


i7^ 


S7 

23\ 


50 


hut  to  have  it  discounted  is  to  receive  money  for  it.  By 
advancing  money  on  notes  before  they  become  due,  we 
can  often  obtain  them  for  considerable  less  than  their 
true  value,  and  this  is  called  ^^  shaving  the  noies^^^  a  bu- 
siness quite  extensively  carried  on  in  large  cities.  What 
does  discounting  notes  signify,  and  what  to  have  them 
discounted  for  us? 

19.  The  Student  is  now  required  to  examine  all  the/ 
entries  upon  the  Journal,  beginning  with  the  first ;  andi 
to  tell  promptly,  by  each,  the  nature  of  the  original  tran-^ 
vsaction:  thns  the  first  entry  after  the  basiness  com- 
mences (January  12th)  is  read,  ''  Merchandise,  To  Cash. 
Here  it  is  evident  that  Merchandise  has  been  purchased 
for  Cash,  or  Cash  has  been  paid  for  Merchandise.  For, 
according  to  Merchandise  Acct.  (Art.  3),  Merchandise  is 


^2 


/ 


/-.' 


/ 


OAmi^^^^^Ji,  Q//L^o4S2,  /§        .    ^t. 


^^t. 


80 1  Q^Ceicnanc/t-j^e^ 

42    o/nleiedl 

29  //      <^ad^. 


450 


^4 


34 
31 


30 
29 


^?n.     <^a^^ 


97 


S7 


74 


50 


27^ 


75 
76\SS 


74\50 


27^ 


debited  for  the  cost  of  every  additional  purchase,  &o., 
and  in  Cash  Account  we  are  told  to  credit  all  payments 
of  Cash,  &c."  In  the  next  entry,  it  is  evident  that  Cash 
has  been  received  for  the  sale  of  Merchandise,  for,  &o. 
(Art.  3,  4.)  In  the  next,  it  is  evident  that  we  have 
received  other  men's  notes  for  the  sale  of  Merchandise ; 
for,  &o.  (Art.  7,  3,  16.)  What  is  the  learner  re- 
quired to  do  with  the  entries  upon  the  Journal  ? 

20.  Profit  and  Loss  Account  (pp.  46,  47).  On  the 
Debit  side  are  collected  together  the  various  Losses  which 
we  have  sustained  during  the  period  of  business  ;  and  on 
the  Credit  side  the  several  Gains  which  we  have  real- 
ized during  the  same  time  (Art.  22).  The  Balance  shows 
a  net  Gain  or  Loss  in  the  luhole  business^  and  is  carried 
to  the  opposite  side  of  Stock  Account  (Art.  1).     The  Ac- 


■09^m^ 


r- 


I 

li' 

11   ! 


I      { 


I 


I 


'      } 


!       ) 
I 


•  ! 


It 

I'll 


?- 


Q/naex  <!fc   .:^;zk:uaet. 


■>   "W*^      « 


Art.  Jl. 


A 


I 

/ 


B 


3S 
40 


C 


^^a-jn 


'^/iai 


i^ 


D 


£ 


G 


H 


count  exhibits  the  Sources  of  our  Gain  or  Loss,  whether 
up<  a  Merchandise,  Interest,  Charges,  Real  Estate,  etc.; 
and  serves  as  an  Lulex,  through  the  successive  periods  of 
business,  to  point  out  the  investments  by  w^hich  we  havej 
Gained,  and  also  those  by  which  we  have  Lost.     How! 
is  this  Account  opened,  conducted  and  closed  ?     Its  uses  ? 

('What  of  (Art.  1,  22.)  What  appears  to  be  the  object  cf 
Balancing  ?  (Art.  40). 
I       2L   Stock  Account  (pp.  44,  45).     On  the  Debit  side 
we  enter  all  sums  which  are  withdrawn  during  the  pe- 
riod of  business;  and  on  the  Credit  side  the  Capital  with 
which  business  commences.      This  is  balanced  To  New 
Account,  which  is  our  new  capital  for  the  continuation j 
of  business  (iVrt.  1,   9,   43,)   whatofStjck  Account?       j 
22.  We  have  now  seen  that  in    Estate    Accounts; 


Q/n(/ex  fo  Szsc/aei. 


Art.  31. 


ofn^et/e^^i 


A2 


/acd^ton,      £>n7i  c^ 


K 


36 


M 


N 


0 


30 


0^io/u  and  c=^^ 


S4 


and  unsold  property,  we  have  all  the  resources  and  lia- 
bilities, their  difference  being  Present  Worth  ;  but  Gain 
and  Loss  Accounts,  and  unsold  property,  (Art.  1.)  show 
the  same,  and  this  agreement  is  called  a  lalance  of  the 
looks.  When  liabilities  exceed  resources,  the  net  loss 
exceeds  Stock  Commencing,  and  Present  Insolvency  is 
the  result  in  each  case,  (pp.  10,  48.) 

23.  The  marginal  figures  which  accompany  each  trans 
action,  by  referring  the  student  to  the  principles  for  ana- 
lyzing and  posting  the  same,  constitute  a  Key  to  our 
exercises,  by  which  he  will  soon  understand  the  office 
of  each  of  the  four  Estate  Accounts,  and  master  the 
general ^riiiciple  which  governs  all  Gain  and  Loss  Ac- 
counts.    (Arts.  1,  5,  11.) 

24.  The  Student  should  now  begin  with  the  original 


25 


r 


I  Ml 


H\ 


I'  '   i 


Q//?^x  /c  <^^/jei. 


Art.  31. 


entries  upon  the  Day-Book,  and  tell,  in  a  general  man- 
ner, how  each  entry  is  Posted ;  the  performance  of  this, 
and  all  other^  exercises  given,  is  particularly  insisted 
upon.  The  Student  must  here  learn  to  Post  promptly, 
without  a  Journal.  What  is  the  learner  here  required ' 
to  do? 

25.  The  Student  is  next  required  to  examine  all  the 
entries  upon  the  Ledger,  beginning  with  the  first,  and  to 
give  the  original  history  of  the  transaction  from  which 
each  Ledger  entry  is  taken,  first  the  Debit,  then  the 
I  Credit  side  of  each  account.  The  first  entry  is  read  thus 
:  (p.  2«) :  "  $800.60."  This  is  either  Cash  on  hand  com- 
:  mencmg,  or  Cash  subsequently  received  (Art.  4),  and  the 
j phrase  "To  Sundries,"  denotes  that  two  or  more  Credit 
I  Items  arise  from  the  same  original  transaction,  or  appear 


L 


2G 


^^^5a, 


1 


t 


I 


H 


1 


I 


1 


i. 


ZM 


4 


» 

I 


r 


i 


I 


&o  (^IcTuciteit^ ... ^_ 

//    Qy^lje/ 

^o!d  Q/Vole/ 

//   Qy^dW 

/^    G^Le/ 

^/    Qy^i^. 


370  w 


S50 

500 
S50 


<S^€ccoi4>ni 


24^^ 


3 


56 


55 


] 


in  the  same  entry  (Art.  16).  The  next  is  read  ''  Cash 
received  for  the  sale  of  Merchandise.  The  phrase  To 
Mdse.  &c.,  as  before."  The  dates  may  also  be  given 
(Art.  2).  What  is  the  learner  required  to  turn  to  the 
Ledger  and  do  ? 

26.  Accuracy.     A  remark    has  already  been  made 
Ito  insure  accuracy  in  an  original  entry  (Art.  2) ;   for  an 
error  there  is  not  easily  remedied.     In  Posting,  we  should 

be  on  our  guard  against  such  errors  as  the  tollowing: 

1.  Two  Ledger  titles  may  be  similar,  as,  ''P.  B.  WiiBit," 
and  ''  C.  B.  AVhite,"  and  the  entry  carried  to  the  wrong 
account ;  ice  should  he  careful  then  to  Post  every  entrl/ 
\nnder  its  proper  Ledger  title.  2.  xVn  entry  may  have 
I  been  entirely  omitted  in  the  Ledger.     3.   It  may  have' 

ibeen  twice  Posted.     4.  We  may  have  Debited  the  ac-i 

I . , 

2^ 


Q/tCCOtMtt. 


YJl. 


4i     . 

fan.    43 


// 


34 


S^e/^.        6 


/  / 


^ 


// 

70 

// 

4S 

// 

34 

Qy^fat. 

7 

// 

43 

// 

33 

// 

37 

oii/en - 

//    ^t//  ^au.  071  oAole  Gti^eTi  lo  ^. 

e^^^ 

//    ^hatged    /ot    S^e^U,    Q/axe<if  ana 
c^avo'^ - 

G^/A^ 

//  ^.eac   (Oti-la^e^ 

//  '^w/a  and  ^^ 

f^  ^it?i{/ited 

//  m,/'£>  €Paya^fe/ 

^^  Q/^'icnandi4e/ 

/^        &Ul7lc/t€&!i 

//     Q/^-eicAanc/td^e/ 

//     Q/fe^cA    Q/tccount. - 


4.^ 

46 

46 

46 

46 

48 
46' 
30 


33 

33 


I 

I 

350^^  75 
67  40 
54    30 

6  35 

300 
300 
7ff\35 


""00 


355 
3 

37^ 
356 

3434 


40 


33 


97 


55 


count  we  should  have  Credited,  and  Credited  the  one 
we  should  have  Debited.  5.  An  entry  may  be  cor- 
rectly posted  upon  one  side,  and  transposed  upon  the 
other,  thus ;  650  Dr.  and  560  Cr.  Before  accounts  are 
balanced  or  closed^  therefore^  there  should  be  some  evi- 
dence of  correct  Posting, 

Although  no  definite  rule  can  be  given  which  will  forego 
the  necessity  of  care  and  perseverance,  yet  the  following 
directions  will  generally  serve,  not  only  to  test  the  accu- 
racy of  Posting,  but  to  show  where  the   errors  arise,  if 


ith 


ere  are  any : 


].  AVe  must  sjo  back  to  the  original  entries;  and 
;  while  one  individual  calls  off  and  checks  successively 
leverv  entry,  another  must  trace  the  Debits  arising  from 

the  transaction  to  the  Debit  side  of  the  Ledger,  and  an 

I "^ 


i: 


III     .  f 


|4 

1 
i 


•i 


: 


I 


i. 


(2//ce4/^na?tdUe 


(2>^    (2/t^nait€^ 

^a&n. 

^tii^  ^ay.   at^iAen  ^o  ^(^^-  Q%^tu 

^/fm.    €Paye/..   

Qrunaiie<) 

^a^h 

/.    c^x^    ^acA-iion/ -* 

^5^  nai  ted w- 

^a4^- 

M>oclii  uTii^a   /Q^U*   2py 


// 
// 
// 
// 
// 
// 
// 
// 


SS 


60 


equal  amount  of  Credit  matter  to  the  Credit  side,  and 
all  under  their  proper  Ledger  titles. 

2.  As  a  further  test  of  accuracy,  a  Trial  Balance 
should  be  taken  (p.  46).     This  consists  of  the  sum  of  all 
the  Debit  matter  in  every  account  upon  one  side,  and 
the  sum  of  all  the  Credit  matter  in  every  account  upon 
the  other.     It  is  plain  that,  if  the  original  entries  are^ 
properly  posted,  the   Debit  matter  upon   the  Trial  Bal 
ANCE  will  equal  the   Credit  matter  of  the  same  (p.  46). 
i  This   last   method  of  testing   the   accuracy  of  Posting, 
must  be  resfarded  as  far  inferior  to  the  first ;  for,  of  the  five  I 
errors  enumerated,  the  first  four  could  not  be  detected  j 
by  the  Trial  Balance,  since  equal  amounts  are  carried' 
ito  both  sides  of  the   Ledger.     Although  the  Trial  Bal- 
jANCE  would  show  an  error  in  the  fifth  case,  yet  it  would | 

i ■ ^- 

30 


Q^CCOHTlf. 


A. 


0^u   ^ad-U 


/  / 


// 


/^ 


^\ 


7An.    €Pa^. 
''     ^a^A. 


c.    /.  cSzf.    J^cn^uyri  aOyro^y  \  'f4 


// 


^^     ^/^ni.     €^a^e/ 


^^     QyVeti^  Q/tccoi4/nC   mz    aocda    uri<^c^ 


^4 

SO 

!SS 


/q^.  ^s.y 


370 

S35 

65 

^00 

450 

74 

^500 


20  \ 
6o\ 
SO] 


50 


SO  SO 


60 


not  inform  us  where  the  error  had  arisen,  and,  to  find  it, 
we  should  have  to  fall  back  upon  our  first  directions, 
viz. :  a  comparison  of  the  Original  Books  with  the 
Ledger.  We  may  here  observe,  that  the  Trial  Balance 
(p.  46)  exhibits  the  face  of  the  Ledger  before  the  Ac- 
counts are  balanced ;  and  the  Balance  Sheet  (first  part), 
(p.  47,)  exhibits  the  face  of  the  Ledger  immediately  after 
the  accounts  are  balanced.     What  of  Accuracy  ? 

27.  Correction  of  Errors.  The  cautions  previously 
I  laid  down  (Art.  26)  will  generally  serve  to  avoid  mis-1 
i  takes,  yet  when  they  do  occur,  there  should  be  some 
proper  means  of  correcting  them.  The  method  of  cor- 
recting errors  by  erasures  is  very  objectionable,  since  it' 
looks  suspicious,  and  always  requires  explanation,  which, 
perhaps,  is  partially  forgotten,  or  cannot  otherwise  be 


X 


-  --i 


HI 


II 


m-^tmmm  «   . 


<^. 


i. 


4^      .     I 

//     45 

*  J^      S 


\ 


I 


//     Q^^ 


/ 


''     G^Le/ 


€%  ^/c/  Q^ccou/n^  /Q4^^.   29^ 


42 
44 
46 

4^ 

600 

235 

425 

75 

4035 

5^4 

60 


60 


^5 


satisfactorily  given.  The  books  of  Original  Entry  are/ 
usually  received  as  a  species  of  evidence  in  courts  of  jus- j 
tice,  hence,  any  thing  questionable  in  them  cannot  be 
overlooked  (Art.  2).  Errors^  therefore^  in  Original  En- 
tries^ should  be  corrected  by  explanations^  with  references 
to  and  from ^  entered  at  the  time  of  detection,  Ex.  '^  Tlie 
entry  for  interest  on  the  8th  of  Feb.  should  have  been 
made  on  the  31st  of  January,  since  it  was  paid  when 
the  note  w^as  taken  up"  (p.  22). 

28.  Inventory  is  a  memorandum  of  unsold  property.  , 
I  It  should  have  no  entry  upon  the  Journal.     It  is  some- 
times kept  in  a  separate  book  by  itself.    On  taking  a  trial 
[  l)alance,  place  it  within  the  columUvS  by  the  proper  ac- 
i  counts  as  set  forth  v^n  (pp.  40  ;  S6aa).      It  next  passes  I 
.  into  the  Balance-Sheet,  J'rom    which  it   is  posted.      In  j 

I ' 

n2 


!i 


\ 


JM£cewame/ , 


>:^i. 


4^     . 

fa7t>,    25 

S^J.    24 
G^Mat.  22 


^  ^^^/ 

/^       &^f(/nat^    

//  // 


44 

4^ 

22 


250 

425 

75 

5^4 


4035 


75 


^5 


\  ^ 


estimating  our  own  property,  we  are  liable  to  impose 
upon  ourselves,  1.  By  supposing  that  the  value  of  the 
property  is,  at  least,  equal  to  its  cost ;  2.  That  it  should 
sell  for  a  certain  amount,  instead  of  fixing  a  sum  that 
we  know  to  be  its  present  exchangeable  value.  BaU 
ancincr^  therefore^  is  not  an  easy  task  for  the  Accovntant 
(Art.  26).     What  is  said  of  Inventory? 

29.  Opening  New  Accounts.     This  is  done  by  sim 
ply  writing  the  name  of  the  account  in  the  Ledger  (pp.'^ 
28,  29  ;  32,  33).     The  book-keeper  must  always  exercise' 
his  own  judgment  in  regard  to  the  spaces  required  foi 
the    different  accounts;    some   accounts    require    mud. 
more  than  others  ;  the  amount  is  determined  usually,  bj 
the  extent  of  the  business.     There  should  be  space  suffi 
cient  to.  balance  the  accounts  several  times  under  tb 


I. 

it  I 


I  ! 


^. 


i. 


7A^u 


co/m 


4^      . 


(^^      ^^/      Qy€ccon/rU     due     on     &3a/' 
ance  ^Q^a.   SpJ 


S4 
S9 


65 
43P 


/; 


30 
50 


same  Ledger  titles.     The  balances  in    Estate,   and  the) 
goods  on  hand  in  Gain  k  Loss  Accounts,  and  Stock,  being  i 
brought  down,  constitute  the  first  items  upon  the  Ledger  j 
after  the  accounts  are  balanced,  and  the  several  accounts 
are   iiiimediately  open   for  the  continuation  of  business 
under  the  old  Ledger  titles  (Art.  23).     When  our  books 
are  />///,  it  is  then  necessary  to  balance  the  accounts  as 
far   as   practicable,  and  carry  the   results  to  the    New 
Books  in  such  a  manner  as  to  exhibit  accurately  a  sy- 
Qopsis  of  our  business  affairs.  I 

It  is  often  preferable  to  open  a  new  set  of  bo6k9^  j 
with  each  Exercise,  instead  of  posting  under  the  old' 
accounts.  When  we  adopt  this  course,  our  new| 
books  are  opened  from  the  resources  and  liabili- 
tiea  of  the   last    Balance  Sheet.     See   Day  Book   (p. 


i 


Jan.    40 


^u   '^unazt'e^ .- 

//      Q/^de/ 


49 
44 


12).     What  is  said  of  opening  New  Accounts,  and  going 
to  New  Books  ? 

30.  Final  Test.  Having  balanced  all  our  accounts, 
and  even  drawn  our  Balance  Sheet  (p.  47),  there  is  still 
another  inquiry  :  Shall  we  receive  the  full  amount  of  in- 
debtedness to  us,  in  Personal  Accounts,  and  are  all  our 
Bills  Receivable  really  worth  what  their  face  indicates  ? 
If  not,  it  is  evident  that  there  is  a  Loss,  and  that  it  must 
be  deducted  from  what  we  had  considered  our  Present 
Worth.  Whenever  it  is  practicable,  or,  at  the  time  of 
balancing,  the  accounts  should  be  credited  respectively, 
with  the  amount  of  their  Losses  ;  and  Profit  and  Loss 
debited  an  equal  amount.  Book-keepers  usually  open 
what  they  call  a  Suspense  Account,  which  shows,  on  the 
Debit  side,  the  several  amounts,  a  payment  of  which  is 


■I 


1= 


<l 


I 


i 

1 


ri : 


'I 


You?l    <^£\, 


^ 


^O     ^U7w(l^ ^2 


^o  ^/d  Q^ccou^  /Q4a.    spy 


sso 


340 


50 


6S 


50 


20 


considered  doubtful;  and,  on  the  Credit  side,  the  receipt 
or  payment  of  all  or  any  part  of  the  auiount  entered  on 
the  Debit  side.  It  would  be  found  very  convenient  to 
have  a  particular  time  for  general  seltlevients.  What 
of  a  Final  Test?  of  TotafLoss?  of  Partial  Loss?  of 
Doubtful  Debts?  of  Settlements? 

31.  References  and  Pages.  The  Index  (p.  24)  ex- 
hibits references  to  the  Ledw.r.  and  the  Ledsrer  should 
always  refer  back  to  the  original  entries.  Each  book  of 
i  Original  Entry  is  usually  paged  off  by  itself;  and,  if  we 
[have  several  original  books,  the  ]:)hraseology  before  each 
litem  in  the  Ledger,  will  be  sufficient  to  determine  the 
'Armrf  of  original  book  (Art.  25),  hence  the  page  only  is 
j  given,  and  this  is  found  in  the  column  before  the  amount 
I  in  Ledger.     This  treatise,  however,  is  paged  otherwi.^e, 

36  ' 


/ 


cr      /T 


'i. 


^^/f(at,  /5 


^y  ^c//^  ^ec - 

//      Q/^Ue/ 


^6 
SO 


425 

447 


SO 


6^^  20 
50 


340 


for  the  convenience  of  the  learner,  and  for  general  ref- 
erences. 

32.  Analysis  and  Journal.  The  art  of  deciding 
promptly  what  accounts  are  affected  by  each  transaction, 
and  upon  wUch  side  they  are  affected,  is  the  most  im- 
portant feature  in  book-keeping.  The  ability  to  do  this, 
implies  a  knowledge  of  the  object  and  office  of  every 
Account  which  can  appear  in  the  Ledger.  The  office 
of  each  of  \X\QfouT  Estate  Accounts  has  been  set  forth 
in  Art.  4,  7,  8,  9.  The  offices  of  several  of  the  Gain  and 
Loss  Accounts  have  been  set  forth  in  Art.  3,  10,  11,  12, 
20,  21 ;  the  latter.,  although  unlimited  m  number,  are  all 
governed  by  a  one  common  principle  : — ^ 

Every  Gain  and  Loss  Account  is  deUtedfor  its  Out- 
lay and  credited  for  its  Returns.     Hence  we  conclude, 


87 


l^ 


11  I!  I   If 


«|i 


I;  t 


-.1 

ft"' 


f 


i 


^d.  46  ^c  ^^.^/. 


soo 

^00 


500 


that  every  transaction  that  can  possibly  arise  in  business, 
must  necessarily  fall  under  one  of  the  above  five  separ- 
ate and  elementary  principles. 

1.  The  Analysis  of  a  Transaction  is  a  record  of  the 
decision  how  it  shall  be  posted,  (xVrt.  23.)  and  forms  a 
Slate  Extrdse  for  the  student. 

Examples  of  Analysis. — {See  pp.  12,  14.) 


Dibits.        Jan.  10,  1851.        Credits. 

Cash 800.60  BULs   Pay,.,.    67.40 

Bills   Rec-.m^A^  fVm.  Paire...     9.5  75 

Mdse 7.MI.00     Stock 2327.95 

J.  L.  Jackson  I54O.50 


2.491.10 


2.491.10 


12 
Mdse 350.75     Cash 350.75 

13 
Cash 370.20    Mdse    370.20 


Dkbits.                15.  Credits. 

Bills  Rec 235.60     Mdse 235.()0 

18. 

Mdse 360.40  Bills  Pay., .3G0.40 

21. 
Wm.  Page 65  30    Mdse 65.30 

24. 

Mdse 26.18  Wm   Pa^e..  26.18 

25. 

Cash 250.75  B ills  Rcc.  250.75 


L 


2.  Tlie  Journal  is  an  analysis  of  transactions,  with 


38 


.^  t 


i 


r 


06^ale/ , 


i. 


Q'^Cat.     5 


^u  ^ai^4 


SO 


500 


500 


Lodo-er  phraseology.  It  is  easily  deduced  from  the  an- 
alysis, and  in  real  business  one  or  the  other,  is  entirely 
omitted.  The  foregoing  Analysis  is  Journalized  on  pp.  13, 
15.  The  Ledger  phraseology  has  already  been  explained 
in  Art.  16,  19,  25.  The  Student  will  bear  in  mind  that 
the  Day-Book,  Journal,  and  Ledger,  are  separate  books, 
and  that  our  Day-Book  and  Journal  are  bound  together 
for  convenience  in  teaching.  The  columns  of  the  Jour- 
nal are  often  footed  up  at  the  bottom  of  each  page,  and 
their  agreement  considered  an  evidence  of  its  correct- 
ness;  as  a  general  rule  it  will  be  found  better  to  compare 
it  with  the  original  entries,  as  in  Art.  26.  The  Journal 
should  be  made  and  posted  as  often  as  the  nature  and 
extent  of  the  business  will  allow,  and  thus  aiford  an  oj*- 
portunity  for  settlement  at  any  time. 


;i) 


in 


It 


^1 


: 


i. 


mv/^ 


1 


40 
40 


6n   So 


3.  PostiDo*  is  often  delayed,  in  order  to  collect  into 
one  sum  upon  the  Journal,  all  the  debits  and  credits  of 
each  account  for  a  certain  period,  and  thus  lessen  the 
space  required  in  the  Ledger.  For  example,  in  a  given 
period,  one  month  or  three  months,  we  may  have  bought 
merchandise,  for  cash,  at  ten  different  times  ;  now  instead 
of  making  separate  postings,  the  Journal  collects  them 
into  one  sum  to  be  posted  on  the  debit  side  of  Merchan- 
dise, and  credit  side  of  Cash.  This  course  is  pursued  in 
Exercise  VI.,  where  the  original  entries  are  classified, 
and  thus  made  to  assist  in  compiling  such  a  Journal. 
What  are  the  five  principles  in  Posting?  What  is  said 
of  the  Analysis  and  Journal  ? 

33.  On  Posting  the  Journal  to  a  given  time,  a  Trial 
Balance  should  be  taken,  (Art.  26.)     This  affords  a  good 


40 


I 


7 


OiOte^ . 


fan.    40 

<^el    24 


03u    ^U7ic/iie4 


IT 


42 
44 

4i 


67 
360 
200 


40 
40 


62'^    $0 


opportunity  to  examine  the  condition  of  every  account 
in  the  Ledger,  (Art.  15.)  In  addition  to  this,  (where 
the  unsold  property  is  easily  estimated,)  a  Balance  Sheet 
can  be  taken,  and  the  merchant  presented  with  a  minute 
statement  of  his  business  affairs.  In  doing  this,  it  is  not 
necessary  to  close  any  one  of  the  accounts.  When 
should  a  Trial  Balance  be  taken  ? 

34.  At  regular  periods  a  Trial  Balance  is  taken,  (this 
always  includes  the  face  of  the  Ledger  back  to  the  last 
halancing,)  and  from  that,  together  with  the  unsold  pro- 
perty, (Art.  28,)  a  Balance  Sheet  is  to  be  deduced. 
From  this  Sheet  all  the  accounts  are  to  be  balanced,  and 
new  ones  opened  below  the  parallels,  for  the  continua- 
tion of  business.  When  are  accounts  balanced,  and  what 
is  the  process  ? 

I  '  ...  — — 

41 


ii 


H 


lii 


.1.^ ; ; 


p  : 


IB  I 


in 


i. 


Q/7l^iSti/ 


<^o   ^a^/i  <?7i     fad.    S^//ud   oA^ode/  .  \  ^6 

^(y?t  <}   Qy€cce^Ua7ice^ ._. 

aae  ii  Gyjo^^ 


^  $5 


25 


^6 
S6 


^named 


Y^ 


^e^,      6  ^o  ^a^^. 


46 


54 


30 


35.  After  balancing,  tlie  Student  should  see  that  the 
sum  of  the  debits  below  the  parallels,  equals  the  sum  of 
the  c^-edits. 

36.  Bank  Account.  This  account  is  opened  with  the 
name  of  some  particular  Bank,  and  is  Debited  with  the 
amount  of  every  deposit  made  in  the  Bank,  and  Credited 
with  the  several  amounts  drawn  out.  When  an  indi- 
vidual deposits  money  in  a  Bank,  he  is  said  to  open  an 
account  with  the  Bank  ;  and  when  he  continues  to  de- 
posit and  to  draw  out  money,  he  is  said  to  keep  an  ac- 
count current  with  a  Bank.  Cash  deposits  are  made 
for  the  safe  keeping  of  money ;  and  there  are  many  other 
articles  which  may,  with  the  same  propriety,  be'^depos- 
ited  in  a  Bank,  such  as  Notes,  Wills,  Leases,  Policies  of 

I  Insurance,  etc.     Some  individuals  make  all  their  notes 


42 


Q^CCOUTll, 


'4. 


20 


5 

3 


36 


^ 


36 


4^      . 


^y  ^zo/a  an^  c%5  /Q^^^    ^0^'- 


4^ 


5A 


30 


payable  at  the  Bank,  and  make  all  their  Cash  payments 
by  giving  checks  upon  the   Bank   (Art.   9).     What  of 

Bank  Account?  c\      ^x.      t\  k-+ 

37    Personal   Property  Account.      Un    the    iJebit 

side,  we  enter  the  amount  of  Outlay  for  such    movable 

property  as  livery,   furniture,  cattle,  etc.,  and,  on   the 

Credit  side,  all   keturns  arising  from  the  sale  of  such 

property  (Art.  3,  11).     What  of  Personal  Property  Ac 

count  ?  -w^        .  .  1  r    i  1.  • 

38.  Private  Expenses.  The  Debit  side  of  this  ac 
count  shows  our  Outlay  for  Private  Expenses  (Art.  10). 

39.  Our  object,  thus  far,  has  jeen  to  lay  before  the 
Student  a  brief  outline,  and  to  initiate  him  into  the 
ground  rules,  and  leading  principles  of  the  subject.  We 
have  not  aimed  to  tell  all  that  can  be  said  upon  the  va- 


I 


43 


M 


r  > 

hi 


'i 


III 


."^z.,. 


o/c 


o/U  anci 


(S^o  ^Ui^/i,  on  Ao4e7i    ^and  ^t//^ 

^^  Qfn^e^e^ 

»    ''''     ^^na^ae^ __ 


/c^ 


200 
3 

54 

^99 


457 


36 
30 

94 

60 


e^.^/ 


4^     . 


<^o   Q/Ve^i^    G^Oi4.7U 


45 '  I  252/ 


2527 


^9 


ip 


rions  subjects  presented,  bat  rather  to  train  the  Student 
upon  the  Elements^  in  order  that  he  can  vary  and  de- 
>ise  plans  as  circumstances  may  require.  The  Account- 
'.mt,  thus  trained,  will  perceive  and  avail  himself  of  every 
improvement  that  can  be  made  in  the  system  of  accounts 
which  he  may  be  required  either  to  keep  or  to  examine. 
Thus  it  is  customary,  with  some  Accountants,  not  only 
to  Credit  Bills  Receivable  for  the  amount  of  every  note 
disposed  of,  but  to  check  the  same  upon  the  Debit  side; 
and  to  check,  on  the  Credit  side,  in  a  similar  manner, 
the  Bills  Pavable  as  they  are  severally  redeemed.  The 
advantage  of  these  an  1  similar  devices,  will  appear  obvi- 
ous  as  the  Student  proceeds  ;  they  are  to  be  regarded 
merely  as  suggestions,  yet  they  should  be  verified  In 
the  Exercises  which  follow.     The  various   kinds  of  bu- 


44 


/^ 


I 


Gnccoanl, 


ri. 


30 


257 
200 


60 


457 


60 


Gxc^otm/^, 


^i     . 


S^U     &^/lc/z€^ 

//      €^^o/a  and  ^/i  /"o/^tl.    //, 


^   0/d  Q/{ccou/rU  ^Q^tl.  29^ 


42 
44 


2327  95 
499  9^ 


2527 


2527 


^9 


^9 


siness  will  often  require  much  ingenuity  and  tact  in 
order  to  manage  them  with  ease  and  perspicuity. 

40.  The  Balance  Sheet  exhibits  the  following  results  : 

1st.  Our  resources  and  liabilities,  as  deduced  from  the 
Estate  Accounts  and  unsold  property  ;  and  our  gains  and 
losses,  as  deduced  from  the  Gain  and  Loss  Accounts  and 
unsold  property,    pp.  47,  86^. 

2d.  An  arran2:ernent,  in  which  it  will  be  seen  that  the 
net  gain^  added  to  the  original  capital  or  stock,  is  equal 
ito  the  difference  between  the  resources  and  liabilities, 
ithus  constitutin<>:  what  is  usuallv  called  a  Balance  of 
\the  Books.     (Arts.  1,  20.) 

3d.  It  furnishes    all  the    materials    for    balancing    the 

accounts,  viz  :  the  unsold  property  ;  the  balance  of  each 

jaccount,  the   equal   totals   to  be   entered   upon    the  same 


45 


Tktal  JJalance. 
jan.,  feb.  and  march. 

Dkbits.  Credits. 

2,421.55   Cash 2,064.58 

2,763.00 Merchandhe 1,500.00  1,520.60 

1,035.60   B'dh  Receivable 450.75 

189.80      Wm.Fage 121.93 

34U.50    J.  L.  Jacksmi 272.30 

300.00   Heal  Estate 600.00 

627.80   Bills  PayoMe 627.80 

8.36    Interest 5.00 

54.30   Charges 

Stock 2,327.95 

200.00   Profit  and  Loss 

7,890.91 


7,890.91 


horizontal   line.     We   close    or  balance  every  acconnt 
separately  from  this  sheet,  (Art.  34.)  thus : 


Cash  Dr.  S2421.55 
Cr.     2064.58 


it 


356 . 97 


Here  we  have  the  balance,  and  the  equal  totals  without 
the  additional  labor  of  adding  and  subtracting. 

We  now  open  our  ledger  at  the  Cash  Account,  enter 
the  bahince,  the  equal  totals,  make  the  parallels,  and 
bring  down  the  balance  on  the  Dr.  side.  (See  Art. 
4,  p.  14.)  In  closing  an  account,  consult  the  article 
which  sets  forth  its  object  and  office.  (See  Arts.  4,  7, 
8,  9,-3,  10,  11,  12,  20,  21.)  After  closing  the  Estate 
Accounts,  next  close  the  several  Gain  and  Loss  Ac- 
counts, ending  with  Profit  and  Loss,  and  Stock,  checking 
the  balances  as  you  proceed. 

Remark  1. — We  give  the  Analy- 
sis of  the  opening  entry  of  Exercise 
II.,  as  taken  from  the  Balance  Sheet 
of  Exercise  I.   (See  Art.  29.) 

The  first  references,  in  Exercise 
I.,  are  to  Art.  3  and  7,  found  on 
\t\i.  13  and  16.     Consult  the  refer- 
ences in  every  transaction.      (See 
Art.  23.)  Bill  Rec.    275.60       Mdse.     275.60 

Ekmark  2. — The  net  gain   is  added  to  the  original 
capital  periodically,  and  the  resul-ts  of  each  period  are 
'carried  into  the  fc)llowinir  one. 


April  1,  1857. 
Cash,      $356.97     Stock,  S2527. 89 
Bill.  Rec.  584.85 
Wni.  Pacre   17.87 
J. L.  Jack- 
son    68.20 

Mdse... .1500. GO 


46 


m,  t 


h 


!    i 


i^t&K  Aecoanta. 


BALANCb:  Sheet. 

JAN.,    FEB.    AND    MARCH. 

Resources.  Liabilities.  Gain  and  Loss  Accounts. 


"Lomtt.     Gains. 


Cash,Dr $i421.55 

*•         Cr 2004.58 


Bills  Rec,  Dr 1035  60 

'*  Cr 450.75 


Wm,  Page,  Dr 139.80 

Cr 121.93 

J.  L,.  Jackson,  Dr. .  340.50 

Cr...  272.30 


Bills  Pay.,  Cr  ....     627.80 
Vr 627.80 


Mdse  Unsold  .... 
Original  Capital,  2327.95 
JVet  Gain 199.94 


356.97 

584.85 
17.87 
68,20 


1500.00 


2527.89 


2527.89 


2527.89 


T 


T 


Mdse,  Cr....$ 1 520.60 
"     Unsold.   1500.00-3020  60 
"  Dr 276^00 


Real  Estate,  Cr 500.00 

''  Dr 300.('.0 


Interest,  Dr 
Cr. 


8.36 
5.00 


Charges,  Dr 

Profit  &/jOSS,  Dr .... 
JVet  Gain  (Stock) .... 


3.36 

54.30 

200.00 
199.94 


457.60 


257.60 
200.00 


457.60 


Remark  3. — We  cannot  insist  too  strono;ly  upon  the 
necessity  of  thoroughly  understanding  the  object  and  office 
of  each  account  in  the  Ledger.  (Arts.  1,  11,  23.)  When 
this  knowledge  is  gained,  the  science  is  mastered  ;  and 
whatever  original  and  subordinate  entries  the  peculiar 
nature  of  the  business  presents,  the  student  readily  under- 
stands the  same,  and  can  open,  conduct,  and  close  the  set 
of  hooks  in  an  intelligible  manner.  A  thorough  know- 
ledge of  the  accounts  themselves  will  be  of  more  service 
to  the  learner  than  the  usual  rule  :  "  The  thing  received 
is  debtor  to  the  thing  given." 

Remark  4. — The  student  should  master  this  set  of 
books  thoroughly  and  practically  before  he  passes  on  to 
another.  We  have  given  the  Trial  Balance  at  the 
close  of  the  Day-Book  memoranda  of  each  exercise. 
This  will  be  an  important  point  for  comparison  and 
revision.  An  examination  for  errors  is  a  profitable 
discipline;  and  the  book-keeper  has  to  revise  his  work 
very  often. 


47 


It:  ■: 


ml 


riiACTICE  IN  BOOK-KEEPING. 

41.  The  steps  of  each  exercise  are : — 

1.  Enter  the  transactions  of  the  given  exercise  in  Account 
Book  No.  2,  making  a  Day  Book.  Analyze  these  transactions 
upon  your  slate.     (See  Art.  32.) 

2.  Take  Account  Book  No.  3,  and  in  it  journahze  your  Day 
Book  entries,  making  a  JournaL 

3.  Take  Account  Book  No.  4,  and  in  it  post  your  Journal 
entries,  making  a  Ledger. 

4.  Take  a  Trial  Balance,  then  a  Balance  Sheet;  and,  finally, 
close  and  re-open  the  accounts  from  the  Balance  Sheet. 

5.  Exercises  II.,  III.  and  IV.  are  but  a  continuation  of  the 
next  preceding  Day  Book,  Journal  and  Ledger. 

Note. — Do  not  copy  tho  words  "  business  transact  Ions  ^^^  nor  consult  the 
Key,  which  should  be  kept  iu  the  teacher's  desk. 

EXERCISE    L 

Take  the  transactions  of  January,  February  and  March,  for 
the  first  exercise. 

EXERCISE    XL 

V 


cetue</  /im   Qy)  ote  ai  (/O  Uciya 

.  3 


8  A  9 


3  &  9 


3 


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EXERCISES  FOR  THE   STUDENT. 


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9  &3 


4  fc9 


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3 
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Trial  Balance.  Ce. 

4,996  32  Mdse $1,800.00  4,274  10 

8,690  62  Cash 2,8.1  77 

1,284  60  Bills  Receivable 790  00 

1,494  00  William  Page 1,594  00 

636  10  J.L.Jackson 797  82 

Stock 4,762  69 

9  00  Interest 15  50 

1,150  00  Bills  Payable 1,827  03 

17  00  Charges 

1,200  00  Mechanics'  Bank 600  00 

2,555  27  Real  Estate $2,500.00 

17,032  91  17,082  91 


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37  *4 


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a/^??!-.   Sraas,  a^i    het    otdet,   a7nouMl^&?ia    lo    ad 
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EXERCISES  FOR  THE   STUDENT. 


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i 


f>J 


BUSINESS  TRANSACTIONS. 


Articles. 


9*4 


// 


I 


4  &  8 


(^etl/ed  ^(^u/l   'y/^('//ta7n   'S^aae  anc/ ^oau/  ni7n 
\  me  i^aoance  a/  accotonid 

23 

^.edee7ned  ^mj  oti^7v  oAo^e  nci^en  Q/zcay-  4  Om, 
4^5  4 ,  ftaid  cad  a - 


// 


4^9 


3*4 


3*4 


I 


(^ea/ed  ^i^aJi  ^.    <=^.    ^ac^^on,  fiaid  codh.,. 


// 


^ofd    /odfii^a  ^eUd  Jot  cad^,  40  ydd.  ^at' 
hedi7ia  a£  03 


// 


:  3  fc  9 


I 


3*4 


^ad4  dafed  o/  Q^^de/ 

24 

(^ofd  Q^^de,    lo    Q/€i77id^y,    Rafted    ^   ^o. 
on  accOLCTU . 

// '■ 


4  *21 


<^o/d  Q/M:/de.   a^  /o/ZouAd  /ot  ^odU  : 

4   c3^^o^ma=q/a^ 025 

6  "^Aadzd ^0 

9    ^I'/^t/et    (^fioond ^^ 

_ 25  — 

^ecetwd  in  /u//  77ty  ^tli^n  o^  nt'^  ^a^/tet  d 
edCaie  cadn^ 

26        ■ 


457 


477 


44 


03 


7^ 


420 


200 


340 


^3 


9^ 


9  ft  4 


3*4 


^cecued  o/  G^i77id^y,   ^a^d    &   ^c,   a  t^ 
7ntltance  ojf  cadn, •- 

27 — 

^o/d  ^t7ned   c^att^/ey  ^ot  cadn  / 

6 fid.    ^t:7ie7i^,   4§0  T^dd.  al     .30 054.00 

6  ydd.  S^/i^e^ioadc/o^Aal  5.00 30.00 

42   (^a?tc7^   "^/iaiid  al3.00 36.00 


45000 


200 


f^O 


II 


Ill 


if! 


EXERCISES  P^OR  THE   STUDEx\T. 


Article*. 

3 

8 

12*13 
4 


4  t40 


ii 


/ 


tV€^ 


(2%/f/  Q//u/oe.  lo  ^he  a?nocinl  o/ 

ficns  ^4ln,  /a>^   

Q/    i(/ad-  atcoii^ea  at^cowtU  on  ^ne  ii^a7}ie^  —  . — 
^hec^ivet^  ^a-jn  Jot  vataTice^ 


// 


^ougfu  071  l^LO  / OCfi  171^^1. ,   iecetu€-a  cui^/l 

op  


9  &  4 


^ea/ec/  ii/U/l    Qy^i?}i4/!y,    ^afie^    &  ^o,,   and 


4500 

4000 

S 

503 


37  &  4 


8  &  4 


tecei'i/ec 


i/ei/  Ine  vafaTice  o/  Q/iccot^7U<i 


// 


3  &4 


77i07itn,   zecetved  ca^n 

30  

'^ec/eemec/     7?n^     oA^ote    atven     ^o     Q^i7?i40y, 
^leo    &     1^0.,   on  ike  5 In  ^/^^/.,  ^atco  cadA  .. 


H 


(2^^/  al    aticUon  I  he  vjnote  arnocml  <?/   Q^ei' 
cnandii^  on  Hana,   and  leceizH'u  ca&ti. 


// 


4000 


600 


90 


Dr. 


4500 


Cr. 


Trial  Balance. 

6,325  00    Mdse 7,778  98 

29,294  73    Cash 8,995  46 

l,2o9  L'5    Bills  Receivable 741  60 

4->S  00    William  Pa<re 42S  00 

161  72       ....J.  L.  Jackson ICl  72 

; Stock.. 23,774  70 

2  30    Interest 3  40 

1,267  <-3    Bills  Payable 1,267  03 

49  Li >    Charges 

6,300  00    Mechanics'  Bank 1,771  35 

2,500  00    Real  Estate 3,200  00 

705  28    Aniesby,  Capes  &  Co 705  28 

75;3  00 Personal  Property 600  00 

95190    Hiuison  R.  R.  Co 1,150  00 

219  45   Private  Kxpenses 

880  60    Protit  and  Loss 


50,577  46 


50,577  M 


(>0 


40 


6^ 


i'l 


'  ( 


\ 


FOREIGN   SHIPPING    AND    COMMISSION   BUSINESS. 


EXERCISE   V. 

PARTNERSHIP    AND    COMMISSION— DOMESTIC    AND     FOREIGN     TRADE— NEW 
DAY   BOOK,  JOURNAL,    AND   LEDGER,  JULY,  AUGUST  AND   SEPTEMBER. 

42.  When  we  convey  goods  by  land  to  our  agent  in 
Baltimore,  to  be  sold  on  our  account  and  risk,  we  open 
an  account  called  '^Consignment  to  Baltimore  f'  but  if 
tlie  same  goods  are  conveyed  by  sea,  the  account  would 
be  opened  ''Shipment  to  Baltimore.''^  On  the  Debit 
side  we  enter  cost  of  the  goods,  the  insurance,  cartage, 
labor,  etc.,  and  on  the  Credit  side  the  net  proceeds 
arising  from  the  sales.  The  balance  will  show  our  gain 
or  loss  upon  the  adventure  (Art.  20).  When  goods  are 
consigned  to  us  to  sell  on  the  account  and  risk  of  the 
person  who  [consignor]  sends  them,  we  open  an  account 
after  the  form  "IL  B.  Johnson^s  SaJes,'^  the  name  of 
the  consignor  being  given.  On  the  Debit  side  we  enter 
the  usual  charges  ibr  freight,  duties,  labor,  postages, 
etc.,  together  with  our  commission  ;  and  on  the  Credit 
side,  all  returns  by  the  sales.  The  balance  will  be  the 
net  proceeds  due  to  the  consignor  (Art.  9,  40). 

43.  Partnership. — In  a  partnership  concern,  a  stock 
account  is  opened  with  the  names  of  the  partners  re- 
spectively ;  as,  "  H.  Bronson's  Stock."^  Tiie  amounts 
furnished,  and  also  the  sums  gained  by  each,  are  carried 
to  the  Credit  side  of  their  respective  Stock  accounts ; 
hence.  Partnership  divides  a  debit  or  credit  according 
to  the  interests  of  the  several  persons  concerned. 


*  Howard  Bronson,  William  Milman,  and  Franklin  Murdock,  have  en- 
tered into  partnership,  and  the  firm  is  to  be  known  as  ''Branson,  Milman 
<Sc  Co"     The  Articles  of  Agreement  provide— 

1.  That  Howard  Bronson  shall  manage  the  whole  business,  and  for  his 
eervice*  receive  a  salary  of  $2,000,  payable  quarterly. 

2.  That  William  Milman  shall  devote  his  time  to  the  mterests  of  the 
concern,  and  receive  a  salary  of  $1,600,  payable  quarterly. 

8.  That  each  partner  shall  share  the  Gain  or  Loss  according  to  the 
amount  of  capital  which  he  invests. 

Each  partner  takes  a  receipt  from  the  firm  for  the  amount  which  he  in- 
vests in  the  co-partnership,  and  the  firm  opens  business  with  a  joint  capital 
of  e^  150,000.— (See  p.  86a.) 


n 


<U 


!'' 


EXEECISES    FOR    THB    STUDENT. 


^au     3^co/,    Ofu^  -/,    ^S-... 


Articlef". 

41*43 


4 
36 

7 
7 


43 

4 

36 

7 

3 


43 

4 
3 
9 


9f^2vaid  ^lon^i&n    aJvancen  /«  rf*^?*  of 

<=&Li. 0SO,693-^5 

/.    ^.    /acLon,'6Q4^ote/ 400.00 

q/.    (Z^ciei,    &^ccefaa,ue/ SO 0.00 

— i 

^//^e.'/'Aa?}!    Qji(i%?ian  advances  /ttd  fiatf  of 

^aA 0a.ooo.oo 

^aJ.  ^  ^^  Q^lecfcanic^ '  ^a>^i     42,000. 00 

^anu<e/m^o^'^^'^  Q^o(^ 6,000.00 

<S//^icfianc/i:.^e  aa  ftei   o/nventory      45,000.00 

aina/'  <i(oc4.  co7i<iMie<^  cj!  ifie  fo//ou'tny  .- 
^aA. 035,000.00 

Q/^l^.  a^  fiei  ^/i^enloty 'fO.S'iO.SO 

^ri.f:fi  et^ityvce^on  t^a/ue<^  al 39,000.00 


25,7^9 


'75 


50, 000 


(^^f'hhe</  he\ 


'7 4  Mo  2  b 


zled,    aTid  coiMtmied  ^o 


'j  W^'JTt 


§   ^o„ 


3  *d2 
4,  42 


oAiii^  Oi^^eaft'J.   io  ^e  do/^  on  out  accot4.nl  anc/ 
zf:^i,     an     Qfnvot:ce,    /s^^.     46,/    o/  ^ooc/o 
nUn^    lo - $3,4^'0J6' 


a7}iOf'C: 


\ 


0^c,'id  ca^^.  /oi  /a^oi,  c^iayacfe,  a7id 
in^uiance/ -^^O.^O 


(^,^if'hfie(^  fust     ^ir'y    '^uo/'e,     (^/^oai"^,    '7n,/ 


con^t^ 


3,670 


5i 


BUSINESS  TRANSACTIONS. 


Articles. 

3,  42 

4,  42 


3,  42 
4,42 


lo  Oe  d^oid  071  OU.Z  accou?il,  a  acumltlu  o^  Q^'Met' 

cnandcii^e,  a4  fiet  Q/'n'UOtce/ 06, 000 

^^aid  ca^^n  4o%  t/nd^tiiaTice  a/?id  cnataed .        "f  50 


// 


^/if'hhe<:/    het     vim    &/y?ftot4.ln,    &rfuc7m4^ay, 


an 


J 


C07ldfa?Z€i 


■'T 


d  lo     ^^e<?,    Qz/a'uucdon',    c^S^^^- 


hooi,  lo  oe   i^oid  on    ou,z    accoc(/nl,  800  ^atzei<(i 

0/(^/0^1  al  05 04,000 

^^a^n  haul  <^oi  ii^undiu  cnazae^ ^50 


42,  4 
4,  42 


7,42 
4,  42 


^!^cefved  hez    mta    Sooxei,    c^^Ae,    C07i4^ned 
lo  ud  lo  ve  <^ocd  /ot  accoiCTil  0/  ^^eotae  0SiacK', 
/ine  co?iii{an<?t,y  zyatt^,  an  Q/'-fivotce  o^  Qjiu 
^od^,   0  5,296, 50. 

z/aui  ca^/i ^01  dzemnl  and  deities 05 "f  'f  .40 

vu  cnazaed ^6.30 


ii^tcndz/i^  chazaea. 


// 


S,  42 

!36,  12 
4,  42 


^^ecetzAed  dio7n  /a^ne^  Q/ahAen,  ^^t^^^ 
nalt,  500  vazie/ii  of  xyozn^,  lo  ve  <^otd  on  nt^ 
accot^/?zl  and  zt4^,  a^nounl  od  Q/nvoice  0 4,500. 
tyatd  cnazaed    hez      J^.    c^.      J^cA<fon  a 

oA^cle,  a7nou/nli/?za  lo 0/00 

zyatd  ca^n  /oz  fzet^anl 6OO 


// 


r^^ecet^'ued  fzo7n    Ine    Sa<i^6    Q/ndtO'     t^.,  fiet 
Atta    Ot^io/ie,    ^^oohez,  an     Q/^iv-ot^e  ojf  Q/^fet- 
cna?idMe,  09,064.90,  lo  oe  ^otd  on  accou/nl  ojf 
J^.     7r.    Q^itii-oee,    c^az^ana. 
QfiaTied  Oo^idd  al  4  moti.  lo  Ine  7^«rf- 


lo7n=hoU'j^e  i^oz  ducted 0^,300 

^^necK>    on     Q'^^iecmzntcai       (^aTZK     Joz 

/zei^/il 4,^70 

^ad-n  haul    dot  cnazaed 29 


63 


6,^50 


4,^50 


597 


70 


700 


3.599 


—J 


r 


■M 


EXERCISES  FOR  THE  STUDENT. 


1 


Article!. 


42  t  8 
42,  4 

42,  8 

42,  7 

42,36 

42,  8 

42,  4 
42,  4 


Jre  nave  ^wf^/t^a    a7u/  /^U^e^/  ou^  ^ne  t^dtA 

ctly,   ad  het       uulwazci^  Q/^?iuoice  .* 

600  oazze^d    oA/out,   /oaa/u    on  out  oA^ole,  al 

5  ?non^nd,  op      /on?i^so-^i    A  ^o 

Q'Vcade. ,  cad^U   huicna^e^ . 

^^ooud    tfou-gnl    of     Tf  (/iK€d     &   ^o.,  Ofi    ou^t 

Q/role  a^  S  mo^u/id . 

Q/^/'je.   voua/i^  on  &^a7?iu€/ SSiom/fi  <i  oAo^e^ 
^^ociii  hicicnadea  ojf  ^onih^o?i    A  '^o. ,  vy  a 

cnecK^  o^   Q//CecUa7itcd      Q/dan^. _. 

^-Guive    out    ot</n    QyVole    at    3  7?ionlnfi,     jf/ u* 

^ta?nd    oi  ^^o.,  Joz  a  d-u/^/uu  ot.   Azov cdw fid 

C^d/eclea  otz  t'ft'Suiance  on  dnih  ^d/^imceton  ana 

cazao,  ad  hez  ^locccu,   cad-u 

^^adn  haul   <oz  dufuiiu  cnaiaed 

46 


42 

3 
4 

4 

10 


e  -nave  entezea  into  ait  aateeTn&ni  ti/t'/^n 
J^eie^ntan  QAJaznuni,  od  c^wiHrna,  a?u/ 
^^ozae  ^;;:2)u^nta/i  of  cS£ti^zfwoi,  lo  7?taKe  con" 
dmm?i€y?7^d  lo  eac/t  otnez  on  lot/tU  accou/fU. 
(bacn  haztu  z€€eti^ed  two  fiez  ce^t.  on  titd  fiuz' 
cnaded,  a?ia  J^cve  hez  ce7U.  on  /ltd  dated.  oy/itd 
aQzee7?ie7U  n/e  tc^tu  a^no7ntnate    t^<?.    Q/C. 


3,000 
35,000 

'fS,000 
6,000 

'f  2,000 

^,32^ 

^,900 
^40 


SO 


// 


Q/nt^f^ed  hez  oira  S^anaez,  Qz)aviii,  on  ac« 
coi4/?tt  on-  ^o.  Q/o,  anc/  cond{an€<ji  to  I^.  S^ai' 
n€€^n,     cTCa^aTza,   400    ^azze/d     o/    'S^oz^   a€ 

09 03,600 

^^adn  /oz  t?idt<^zance/ 9O 

ff     ^leiafa 490 


a 


ut  coniTTttj^j^ 


ny>o 


I) 


64 


V 


r 


BUSINESS  TRANSACTIONS. 


j 


Articles. 

9    ^  ^azTn^nt  ^z.    /oz  /tui  t^€t€i  ..f'f ,349.90 
9)   ^   Q^con/afi  Qiz.  ^z  /^  tA^ ..     4,3^9.^0 
^    &rniA7n^nl    to    c^av^zna,  ^o.  Q^€.  Q^St,   pQ% 
otiz  t^tuL 4,349  20 


7,  42 

9,  42 
4,  42 


2S 


42,  4 
9 


8,  42 

4,  42 
9  42 


O/oed  0/  ^^eoiae  SS^acd  d    aoodd    to   ^,    ,2^ 

J^ac^on,  on  ntd  (9^1u}te,  at  4  TTtontnd 

<^om  0/  (^a^^i&n  d  €^ozd  to  "^/^Tn,  €^aae  on 

account 0600 

Q/o  dunazy  otnei  hezdond  ^oz  cadn . ..   9^^ 

Qfoid    oji:    G^ztd^ee  d    C07idm7z?nent,    fzez    vzt^ 
&uzoh6,  ad   <ot/ot{/d  : 

q/o  dunc/zy  hezdOTZd  /oz  ca^n. 04,250 

//      //^7}i.  ^aae,  on  accou/?tt 400 

^^      J^onn    &/nti>tn,  on  nid  Qyjote,  at 


I 


4,600 


4,5^5 


4  THontdd 


ioo 


29 


iS^cetzwd  Aez   ^c/tctotta,    &neztf/ooc/,  mam  ^. 
aznec7n,    c^L^^^ana,  to  Oe  doca  on  accou/nt  ojf 
^o.^  Q^,  an   Qfnw}^  0/  <^u^z,  045,000. 
<3^ianea     vonc/d     at  tne  '^u^dtoni'doude,  at  3 

Tnonthd,  /oz  dtUied 0600 

xyatcC  cczdn  /oz  did/noizy  cnazaed., 200 

^.  SSatnu/m,   ^t.  X>t  out  tnt'zd 5,000 

(Debit  «  Mdse.  Co.  A,"  with  $5,800.) 

Q^€c€^.   4      

Jre  nave  enteze'd  t/nto  a  ^^idn  dfiecucation 
u/ttn  07nezdon  ^  ^o.,  ^^/oczcedtez,  dhat^7%a 
tne  hzoj/ttd  eau^/fy  ti^itn  tne77i  ad  fiez  aaiee- 
fnent.  (^/zt^  t(/t//  ^e  ca/'/ec/  ^o.  ^. 
Q/neu  nave,  ad  het  acivtce  zecet2^ec/  tntd  da/u, 
^nf^^zeci  to  77W  hez  ozta  ^^ccddon,  2000  oat- 
te/d   Q/^c4eze/,  042,000. 

65 


2,450 


5,^00 


:! 


■♦I 


EXERCISES  FOR  THE   STUDENT. 


Articles. 

42,  4 
4 
9 


42 

4 

36 

7 


^a^fy, ^ic/  /ot  <^uta?tce/ f  i  00 

''  f*      ^lem/a 450 

S?nez^uyii    (^    ^o.    ^i,   /ot   out  ii:i//....6,000 


/^ 


1^/a    on  account  o/  ^o.    ©^  an    o/^mot'ce  ojf 
^ocd^    CouaU^    o/    SUrj-na    Q^^lac/i^u>7i,  ait  /o/' 
iotaa  .' 

(^ot  ca^^. ^20,000 

//  ^/Ucion  Q/^€€/!a7itcy  ^ani       ^,600 

y    Q/ne  Oaiance  on  accoccn^  ^ 


6,550 


10 


4,  42 


650 


^. 


ccz  coTnni 


^^ton/ 44^. p5 

(See  enby  for  the  16th  of  July.) 
/^         


*   7 


'  9,  42 


&^oM  o^  ^.    <Suz^^n  d  coTi^mTinierU  a^  ^>/'- 

<^ot  ca&A.. 0'f,p65 

'  (£^o    ^y^^ri.    0^ag0    on    /t{^  oA^ol^^  a^  S 

montn<i 'f,040 

Q/o     Jf^.   Szf.      J^acn^on  on  accoc^nl ^ t9S7 


22,  ^96 


60 


// 


We    iiave    Ihcd  c/ay  c/oded  (^afifien  ii   (2^^ 
Q/€ccoi^/?7^,    ana    zenci^eieci   an    accot4/fU    iUz^. 

/'Qy€u,  47  y 

10,  42;   (yut  COTTtTnt^J^tOTz/ , 

10,  42    ^lotaye  aTu/ coofiezaae/ 


4942 


3,  42    Q/a^^  lo  ot^  (yu^n  account  Qy/f^/^.  0/^0.   Q/^ 


// 


^64 


i,S50 


SO 


J    4,  42  j  ^aj-4  j-aAd  0/  Q^/de.    ^o.    Q/^. 

_ 


9,000 


i 


BUSINESS  TRANSACTIONS. 


Aniclea. 


I 


4,  42 

7,  42 


10.42 
9,  42 
9,  42 


25 


9,  42 


^^o/a    Q/f(eicna7i(/i4e,    ^o.    Q^,   a7nounli7ta  lo  ; 
0/6,000,  aTia  zecefued  hay7ne77^  ad  doltoK^d  : 

"^aJi. 07,300 

^cod^on   0^ayned  oA^ole/ ^,700\/6,600 

^/ojea    dated    o^    \ho.    Q/€,    aTid  zenaezea    lo 
eacn  ojf  ot^^z  harftteid  an  accotMii  daic-d. 

t/c^i  ca7?i7ni/d(on/ *-- 

jt.    i^atnti7n  d  Intia. _. 

^?   Q^ciniah  d  Ihttd 


Ekmark. — When  tlie  sales  are  closed  in  a  company  Gon- 
cern,  we  fir^t  (loduct  our  exj)cnses  and  cliarfres  (but  not 
our  .share  of  the  co-st)  from  the  total  sales,  and  then  credit 
the  absent  parties  with  their  shares  of  the  net  proceeds, 
debitinir  the  Co.  account  for  the  same  amount.  The  bal- 
ance will  then  be  our  share  of  the  net  gain  or  loss.  (See 
note,  page  69.) 


30 


^,S/7 
^,077 
^,077 


9,  42 


Q€d't/t4ed /^y   ^^^ozae  Qz)u7i(ah  Inal  ne  dnr^Aed 
Jz<>77i    <£z^tf/ezhoo^  lo     <:^ava7ia,    on    Ine    20^n 
ICU17710,  ^^t   Q^^tiiodl^o^i,    0dzatd,  ^o     ^T  0(jat=' 
ntc77t,   07h    acco{4^?U  c/  ^^o.    Q/c,   a  (7Zf.anlflu  ojf 
QyMezcUancCide  a7}ioci7tUna,   ad  fzet    oJ^/iz^o&ce,  lo 
0/^\OOO. 

£/uz  07ie=d/i&zd - -_ _ 

^/^cetif^ed  /zo77i    QSiot(A7i     6\   ^o.,    0-4^1^^   &i^ 

{ea?id,   accau,7id  dated  op    dUt7i7?te7U  ^o  ^He77i  fist 

/f^zdnt/zato7i,    (:^aled.        Q/rei  hzoceedd 

tid.  4 


iAana,   accotcTii  dated  0/  oict  d/itJt  1 716-711  lo  ^nerr. 

het  ^le-o/e,    Q/no77iad.        Gn^ei  hzocee^^d 

^^ccetued,   {.n  ^iau77ieni:,   ^neit    diaM  at    dtant 


6,000 


5,600 


50 
50 
50 


4   42  ^^ 

j  cadned. 


c^iozace     J^tuic 


ia97id,  t<^. 


htcH  nad    ve-en  dtt^A* 


9J^0 


67 


I 


f  • 


^  I 


r. 


^i 


u 


iJ 


J^ 


t;xp:rctses  for  the  student. 


I 


4, 

10, 


42 

42 


co7irifa7i??ie7U  lo  Uii  a7}iou7U(>na  ^o,  caii^^. 

C^tit  co7n7ni^ion/ 

^Lenc^ete^/  lo  S^/acd  an  accouTU  d-a/e^i. 

(See  second  entiy  under  the  18tb  ultimo.) 

^0 


4, 

10, 
10, 

4, 


42! 
42' 

42! 
42 


9,  42 


;  9,  42 


Qro/d  Ihe    z^7natnc/ei  o^  C07i-jt'an/nie7ii    on  ac- 
cou/Tvl  ^.     7/^,   e^it^Oee,   a^ic/  zeTu/eiec^  an  ac' 
cotm€  da/e^. 
^^adn  da/eii  Intd  d^au 

C^C4,t    C07}l'??lt^J.(^7l/ S^^p.  // 

^od^aae-a  a  7ia  ac/iwilt-j-tna S.'/Q 

Kyaut  ca-s/b  lo  e/^ittiOes  /oi  l/ie  nel  hioc€£</^.__ 
^6 

^ece/ve^/  ^io7}t  ^^.  Q^amWdcm,  ^'zietfioo/, 
accot^<7pl  da/ki  o^  ou^t  d-Zt  1^1771  en^  lo  /uni  het 
&^y?7iouii/i,    <^/ti^./7nt^au,        G/Vel  fvtoceec/d 


S,5A7 
4  OB  94 


\ 


4  44 SB 


B4 


// 


^ecetve^  ^10771   ^.    ^atntt77i,    Havana,  ac= 

COU^Tl^      da/ed      O^     out      dZf'h77l&7ll      lo      ^1771    fiet 

SSaTi^t,    Q^avt'd,   o7i  accoi{,nd  0/  ^o,    Q/^. 
Qyfe^ /izoce€^d  /6^ OBp  /    ou.t  l/u't^, _ . . 


^3B\  so 
42450  9^ 


i,34p 


// 


t77l 


e  /lafje  tecer'vec/ ^zom    ^eo.  Q!ci7i/c7fi,  ^t^^. 
et^of,   accoft^TU  da  fed  c£  oci/t  dZf'h77ie7i^    ^o  /^/ 
ftm  (^77Woy,   £^r'^Jty,  on  accowTU  0/  ^o.    Q/^. 

oA^el  fnoc€€</d ^39,634.47 

9,  4V.:  ff^t  l/u'ic/. 


2,676 


3S 


// 


£^e€m/^  ^zo77i  ^.  ^ainu<77i,  account  da/ed 
o^  ^  ^f.(^fj/i  d  dn/^i77ie7i^  lo  S^ai^a7ia  o7i 
acroi4^j^.^.  o^^o.    Q^,        oMl /ztoceec/d  $  4 5 ,000 . 


9,  42    ^ut  dc'ic/. 


43240    4p 


5,0  00\ 


6H 


J 


BUSINESS  TRANSACTIONS 


ArtiolBs. 


4,  42 

^0,42 


24 


(£7olac  dated  0/  Q^LacAetei,   ^o. 


cad 


d... 


10, 4 


10, 4 


20 
4 


28 


C/<^Z  CO77l77lt4dt0/V^ . 


^^^7ic/eied  accounl  da^*{^QQ  Remaik,  Aug.  26), 


// 


^at^  c^oti^atoi  ^zoTidon    cadn    due  ^ot  det' 


tH^ed  QicatCei^. 


44344 

565 


ft 


auazlezty^ , ... 


man  cad 


n  dice  /o 


ot   dez'i^iced 


// 


Q/)id4coded     ojf        Juc/don      &ayne  a     oAole, 
oei/7ia  co772heci^d  lo    /ode  na^  ^Ae  Jace  oif  Ine 

da77ie/ 04,350 

^^a^n,  teceizwci. , 4,350 

Q^Ce77iozanaii97t, 

Q'^fcetcnanaide  undota  ad  fiet   Q/nve^Uoiy 

Q/ntfiTTten^  lo  ^^Livezhooi,  fiez  Xyzincelon,  v^ai- 

tied  al  codl . ...... 

y^ni^  &tin€€^Ofv,  ^f<iuied  cU  cc4i.*^ - 


500 


400 


i,700 


22 

74 


44,000 


74,464   20 
39, 000 


Note. — Day  Book  entry  of  August  25: 

Mdse.,  Co.  A..  .Sales,  $1,850  +  $9,000  +  $16,000 $26,850  00 

Do Expenses,  $G00  +  $200  +  $1,317.50 2,117  50 

Do Net  proceeds  to  be  divided $24,232  50 

Each  absent  i>arty's  share,  one-third $8,077  50 

The  account  "Mdse.,  Co.  A,"  will  show  our  net  gain.  The  credits 
will  be  $26,350.00;  the  debits,  $5,800.00,  $1,317.50,  and  $16,155.00  = 
$23,272.50.  The  difference,  $3,077.50,  will  be  our  net  gain,  as  will  be 
shown  in  the  account,  "Mdse.,  Co.  A." 


*  Our  charges  on  the  Mackerel,  Aug.  4th,  |550 ;  Sept.  Slat,  $565.71 ;  mak- 
ing in  all,  11,115.71.  $11,314.22  —  $1,115.71  =-=  $10,198.51,  being  the  net 
proceeds,  llalf  this  sum,  which  is  $5,099.25,  is  due  to  Emerson  &  Co.,  for 
which  they  must  be  Cr.,  and  Merchandise,  Co.  B,  Dr.  The  Ledger  will  show 
that  we  lose  in  this  speculation  $900.74 :  but  Emerson  &  (^o.  lose  the  same 
J  Aum,  for  their  Outlay  is  $12,000,  and  their  Returns  $11,099.25. 


( 


D 


m 


/ 


I 


lit 


% 


I» 


*r 


r 


FOREIGN  SUIPPING-  AND  COMMISSION  BUSINESS. 


EXERCISE    YI. 

DOMESTIC  AND  FOREiaN  TRADE — THE  BOOKS  OF  ORIGINAL  ENTRY  INTRO- 
DUCED— JOURNAL  AND  LEDGER  CONTINUED,  OCTOBER,  NOYEMBER  AND 
DECEMBER. 

44.  The  Day-Book  contains  statements  and  memoran- 
dums relating  to  our  afiairs  generally,  and  such  other 
entries  as  do  not  properly  belong  either  to  the  Cash, 
Sales,  or  Invoice  books. 

The  Cash-Book  contains  on  the  Dr.  side  cash  on  hand 
commencing,  and  all  subsequently  received,  and  on  the 
Cr.  side  all  cash  payments ;  it  should  be  balanced  daily, 
weekly,  or  monthly,  as  the  nature  of  the  business 
requires. 

/The  Invoice  Book  contains  all  purchases  except  for 
cash  ;  the  Sales  Book  all  sales  except  on  commission  and 
for  cash  ;  and  the  Commission  Sales  Book  all  commis- 
sion sales  except  for  cash. 

The  above  are  called  Books  of  Original  Entry,  because 
they  contain  the  first  written  entries  of  the  transactions, 
and,  as  before  mentioned,  they  are  adopted  whefi  the 
business  becomes  extensive,  in  order  to  systematize  the 
entries  and  condense  the  Ledger.     (Art.  32.) 

"^At  the  close  of  every  month,  deduce  the  Analysis  of 
the  several  books,  post  it,  and  take  a  trial  balance. 
(Art.  26.)  From  the  last  trial  balance,  taken  at  the 
close  of  the  three  months,  deduce  a  balance  sheet,  and 
then  balance  from  it.  (Art.  34,  40.)  The  balances  and 
balancing  upon  the  Cash-Book,  must  not  be  considered 
in  p<)Sting.  This  Exercise  should  be  posted  under  the 
Account  Titles  of  the  last. 

*  We  have  oriven  the  Analysis  of  the  first  month  on  page  76,  and  the 
la«t  Trial  Balance  on  pnge  SQaa.  Tliis  Analysis  referred  to,  has  all  the  ad- 
vantages of  the  Journal,  as  set  forth  in  Art.  32. 


70 


The  several  Books  should  be  posted  up  to  the  same 
date,  and  at  the  same  time  ;  care  being  taken  not  to 
post  any  part  of  a  transaction  from  each  of  the  two 
Books  in  which  it  may  sometimes  be  noticed.  (See 
Cash  Book  entries  for  Oct.  8,  17,  21  ;  and  ah-o,  entries 
under  the  same  dates  in  the  Book  referred  to  by  the 
Initial  letter. 

The  first  statement  in  the  Day  Book  is  made  up  of 
the  balances  and  goods  shown  by  the  students  Ledger 
in  the  last  exercise,  and  therefore,  if  he  posts  under  the 
old  accounis  he  must  not  post  this  statement.  The  Cash, 
Merchandise,  and  Bills  are  passed  to  their  places  in  the 
other  books.  The  Student  should  continue  the  Memo- 
randum of  Bills  as  they  are  given  and  received  from 
Oct.  1.     (Art.  41,  26,  35,  31,  39.) 

I - .. . 

71 


'  1 


L'o 


f 

c 

I 
I 

■;    - 
■ 


p 


<^j 


a 


7 


rr 


/ao 


d. 


\ 


^a^/i   071    /laTid 5S,90^^,^7 

/''        €7t  Q/Mx/taTircti.    ^anA ^,65^.65 

/ft.    ^^/ 3M0.00 

of.    ^.    /acLofi  oi^J-  u^ ^,937.00 

"^eo.    Q^a^idjoTi  //        ^,349.00 

^o.    ^M.n/afi,  //        6\0^4.S9 

^,    ^atnum/  ^z 3,550.^3 

'"Yf.n.    ^a^e/  //        ^,000.00 

^icu^n   ^   ^a.  ''        5,600.00 

(^ht'k7?ie7U  lo   ^tueihoo^  t^ati^ced  al y^f ,^6^.90 

^'u'/i   €Pu:nce^on  //         ^^ 39,000,00 

Q/^-ic/ta7ic/t'-se  07i  haTu/ 44,000.00 


0^44,^9^,3^ 


(Jt^.    Su  lon-iOTi,    /J'e  ati^  ^ii7n 

^Tr/Jl.     Q^^!^/'}7ia7b  ^^ 

S.    Q/Maci^t-j-OTV 

'^^     ^aya^^e,     QyVo^.     4,   ^,   3,  4    aru/  5, 


n 
// 
// 

// 


^a,    J»5 


^^/no7aa7t    A   ^o-  d-    ^ate-j-  ^j  cfiarge^ 


Sn>'J-la-ae>'S  aTui     Q/€cli^zit'St7ia p8.49 


QSlOK^ 


i{ias. 


^9-64 


lyut  C077t77if/j^t07t  a^  3  fiet  c&tvI. 9^'^-7'^ 

^fUeied-Ho  ^ec.  26  oti  cAaiaed-  /  S.^./  4  25  .Oi^ 
/^  ^^  ^'  /Q>.^./    44.5/ 

S^efu^etea  acci,  date^    /Q/€u.  47 ,  52/ 


29, 4^9 

56,745 

^4,300 

4,546 

5.466 

650 

49,224 
44,099 


944,492 


4,094 


46 
24 

97 

36 

^9 
00 


20 


25 


34 


16 


-* 


^4^^    ^ooA. 


0a.    2^ 


,  G4iC€4ile<:l  S.    Qy^lxzc/idOTl d.  ciiafl  oti  ud  a^  30  c/ayd 

' '. 34 

^ec€cz^€^  fiez    ^lincelo^i  fz077t    ^t'verfioo/  accoio7U\ 
da/ed     0/  aoccU     C07id€a7ied    ^o     €Ptylo7i    ^     ^o. 

Q/i^el  fitoceec/d-  c/ue   Q^ec.    40,   /<y       

gA^ov.  40 


650 


.^aUa^fwt  ^a/e  .0^ ^0.00 

0^eUy  c/iaiaeii. J*.^^ 

^ofn7ni^ioTt 535.53 

—  22  ■ 


63,426 


^^ey'lon  and  ^o  d-,   d-a/ed  4ot  cnataed, 

^todem,^  0324.64,  ^oofieta^  039-40.  364.04 

Q^vez^id^ia  aTtd  hodlaae/ 0,38 

Oii/t  co'?7i7nt^to7t  al  3  het  cctU. 4 ,058.02 

q/tU,  ^o  Q^ec.  29  on  cdataed  ^^.^.^        36.^7 
//  //  //         /Qi.^.y       40.25 

i^^7ulete</  acU.   dated    /O/tU.  47,  52/ 

: —  23  

Q/€ccehde</     Jf  (^af?4w7h  d  clza/^  07i  tid    t'n    /aw>t    a, 
/acddOTi    &  ^o.   al  40  c/aud 

Q^ec.  40  


^^ef^t^ec^  fvet,  ^to77it(/e//,  /^077^  ^.  ^^at7244,fn, 
S^i^aTva,  ofi  acU.  ojf  ^o.  Q/C,  an  Q/niM>u>e  0/ 
^tcaat  (See  July  29) 

23 

^a/'^i  -fd^.  S4,      '^oo/^Jza^e  9§.33 246. 67 

0u^t  coTytyrfit-J-Mon ^9^  ■  47 

Qf?vt6i(\jl  07Z  cad^i  c/i'i'/^^-J   t^   /aTt.    8 . 2  02 

£^,mc7eiicc  aca.   -Ju/Ld,  ffaje  94 

L  _-_- 

*— i^M       ■  I  »l  II      .1.  - I.-.      <l.  '    i[    —        -■'     '  ■'         — ~-'—         — — • 


7H 


37 


579 


OS 


4,47^ 


5,466 


56 


ip 


6,375 


547 


S4 


46 


^kJyau     JuOood, 


Q)ec.  24 


Q^'/uiy   Q/^/otmi.        oA^el  kzoceec^j.  c/tce       fa  71.    'f  0, 
4^        _._       . 


25 


htoceec^^  t^ue    Q^Jec.   2^  4^        


// 


S€e€eeuec^ ^io?7i      /.    ^ain.u7n  accou7U  t^a/cd-  0/  4 5 0 

^o.    ©^        Q^i%t  fnoceec/d.  c/ue    ya?i.    /J     /c? 
(See  Second  Entry  under  Sept.  16.) 


S^ 


3^cetvec/  ^lom      y/(}o{woil/L     A     ^o.   accou7i^  d^a/kj- 
Sf:a'ua7ia.        QA^e^  ^'uoc€€c/j.    c/ue       Ia7i.    3    /6^ 


// 


^€cei\^€c/ ^10771    ^    Qju/7i/afi  acr.ou7U  da  Zed-  0/  500 
Oaied   ^oUo7t  dfiMiec/ ^ist   G^.j/oiia  to  ^/ve?ffOo/ 
071    accou7te    o^  ^o.      Qy€.         qA%C   fiioctezlj.    c/ik 
^an.   20  /^        

(See  Second  Entry  under  Sep.  IG) 


// 


C'ut  aiia7i^€777 &7ttd  tc^au  /6ie77tia/i  ^azncini,  S^a= 
^Mfia  /  a7i(/  ^eatr^e  Q)a/n/'afz,  o^  .:2^f'vezfioo/^,  /lave 
lAtij.  aau  tei77it7zat6c/,  a7i(/  we  /taz^e  t/iet^^/cte  te^' 
cletec/  to  each  a7t    (^ccoccnt  ^uiie7U   /G//iI.   4^/ 


SO 


c^t/^ei     S^aAte</    ^ad   ^at/c^/    an^    4i'd     note     fi 
u^oilnudd. 

I 
t 

u — .- 

74  ~ 


2,p36  \  2f 


Sj6i 


I 


S9 


2  Mo 


7,340 


34,450    SO 


S5S 


^ay  ^oo4. 


Qie^,   3i 


^^u>^ea   accou7U  ojf  ^^.    (//jia.cK',    x9  attd,  vy   <^/et   o^ 
Sxcncinqe,   at  dMnt,   tTt  ntd  ^a7M>z,   on   xytyto7^     m 
^o.    t^ii^ihooc,   (Art.  9) 


^/oded  accou/7it  of  Q/^zaa7v    A   ^o.  ^^/uezfwo/,    ^y 
&^6l  of!  Oxcdanae  at  30  c/ay^,    tTi    ntd  favot,  c^i 
^eytoTV  uTid  ^o.    c^iuezhooc,  (Art.  9) 


// 


^/o^ec/  accoic7it  0/  S^a77ihc/e7v    A   ^o.    (/SodtoTt,    ^y 
dza/t    at  dtynt,    €n  f^aw>i  of  Jf.    r^.   ^ac^07i, 

(Art.  9)- ----- 


4,5  i  6 


36 


24,9T6 


SJd'f 


^6 


1 


39 


Monthly  Analysis. 


UCTOBKR. 


DAY  BOOK. 
DKBiTt.  25.        Credits. 

Morgan  ir  Co' s  Charges  ...$1094.16 

Sales . ..  .5^1094.16 

28. 
K.  Madison.  650.00     Bills   Pay.       650.00 

31 
rey/o/iiS-Cw  63,426.37     Shmt  to  Peyton 

<V-  Ct>.7>f«.63,426.37 


CASH   BOOK. 
CasAll,226,i6  Bills   Rec.  Uth...       200.00 
Interest,        "     ...  4.66 

Mdse,  "     ....  10.609  00 

Mor.  <^'  Co's Safes  2  ist  11 2..50 
W'm.  Pa^e.  3i^t....     30U.00 


INVOICE  ROOK. 

Dkbit.  Credit. 

j¥(Z6e$ 1 3,340.00  ./.  /..  Jackson,  1st     720.00 

Bills  Pan.  5tti. . .  6,320.00 

"'    8ii...       300.00 

G. Davidson,  i4ih  6,000.00 


Mdse 2,494,88  Cash  13.272.65 

Bills  Pay.  6t^ 1.324.20 

Mor.<fi-Co'sSalcs.HntS.353m 
Shmt  to  J^.  O.  20t>..  161.30 
SJn/it  to  Ptosfnn.  25ife  47.69 
Sli III t  to Hac.Co^i  27 tli  31.10 
./.  Barn  urn,  ''        31.10 

G.  Duvlnp,  '♦       31.10 

Bills   Pay.  29  h 600  00 

Shmtto  Havana,  3Ut  194.30 


SALES  BOOK. 
.7.  L.  .Tnckson,  2d  . .        M.OO  Mdsc  13,951.00 

Bills  Rec.  5tl) 2^.00 

"   12tli 80.00 

J.T.Jackson.  12th  .       86.00 

Bills  Rec.  17iii 2i)0.00 

Vimt  to  Eroion  ^' 

Co.  -V.  O.  2Uth  . .  3.400.00 
Skiul  to  IlanCn  &>-  Co. 

Boston,  "^5^^. 2.400.00 

Sh,  to  Hav.Co.  A  27tli  415  00 
J.  Bartiuni,  "     4 J 5.00 

G.  Dunlap,  '<-    415  00 

Shmt  to  IVool  SrCo. 

Havana,  31st. . .  .6,216.CO 


COMMISSION  SALES  BOOK. 
Bills  Rec,  12th..  .7,200.00  Morgans-Co' s       ) 
2^^.21.012  50      Sa/e*  34,312.50  I 

wW.9e,  24th 3,600.00 

Bills  Rec,  25th  .  2,500.00 


Note. — In  like  manner  make  out  an  analysis  for  November  and  December.    (See 
Alt  32. 

7^ 


I 


; 


S 


^M<n. 


'4. 


//    // 


// 


// 


45 


// 


Q/o  iyja/a?u:e,    c^d^A  on  /fa7t(/.. 

//    S^t//s    Mecei^^/'e,     qA^o.     /,    

//    (^2/.  on  SSt/Z).  ^ecetiAa^/e,  oA^o.  /. 
//    Q//U^e.    40  Itetce^^,   42000  /^^.    Mt'ce, 
ad   .09 

/^.    m./ 

^^    Qy/^d.e.    pO    fiieced.    ^atfielina,    3460 

y^<^'  cL^  03 

^^      /r^/?i.    &aae  otv  uccocctU .. 


5S,pO^ 

WO 

4 

4,0^0 

49 

pMo 

442 
300 


^7 


66 


Q^o 


2 


//     BO 


// 


Q/o     &cd    Q/^cou/nl,  oaiaftce    

^^    Qf^uih   zyiiTtce^^oTiifief^n^jiiojyt   cSz>cvei' 

hoo/^ - 

xyeuloTi,     M    7^  4,    <3^a/eti,     45    fifhe^, 

4^p0  aa,/fon4.  al  04.90 

f*    B4\     //    Q/^/^e.     70    c/ie^ld,     7^9     ^      ^ea, 

ad  .09 

/'    (^^c/^e.  400    //    ^260  Ms  dea  ad  .42 
^^   G^Le.  36  fleeced-    4^00  yc7d.      ^utc? 

ad  02.60 

''/    ^f'fA    ^^etWA    GA'b.   2 

^^    Q/Tideiedl       on        GSt'ctd       ^^^cet'-i/auce 

q4^o.  2 

^'   Q^<Le.    20  //</  23,64^ 
al    M 


//    22 

"    23 


50 


''    $5 


v^i 


Q^^TTiotcrU  catztecc 


Ot^l. 


50,^62 


3.49^ 
3,5p4 

674 
994 

4,6^0 
4,600 

S7 

4,4  4  § 


3S 


04 
20 


67,04  ^ 


SS 


^0 


o^n^ia. 


4§ 


// 
// 
// 


2 
6 

40 


''    20 


/  / 
// 
// 


25 

27 
29 
34 


Q/iot^,      4 


''/       5 


//      6 


f     40 


// 
// 
// 
// 


// 
// 
// 
// 
// 


^  Qy/l(t/.je.    400  ^/^   9 6 00    ^.    '^o/^es 
ad  ,20 

^^    G^7de.  70  nils   ^loac/c/od/i,   ad  05  .. 

QSuTd  &aya{'^ce  otct  7iode  qA<>.  4 

Q^^c/de.    <^u^az  /of.^./ 

^/Lozaafi    ci     c^<?  t^.    O/^a/ed-  ^ot  cnataed 

S^ietq/id  <'zo7n    ,:t£cv^ifiooc. .98. 54 

/    ^udt'e-j.  30  fiet  ce7U. ^,246.50 

^^i-cddo7}i    c/ucude  ifeed 2.4 5\ 

'^atdaae 6. 49- 

Q/nh^fiTid  do  oA^e^i^  C/ueand  /ot  cnataed 

^^         SSoddon/       '^       

^^    ci^atfana    t^.     Q/c. 

"    ^t,//^   'SPaya^/e  ©/^.   5 

^^    Q4n/h77ie7U  do  cyCavaTta  liot  cnazaed- 

^^  GyyetiA  Q/€ccd,    OaiaTice  €n  nand,,. 


// 
// 


4,920 

350 

4,324 

224 


20  , 

Si  ■ 


i,353 

9^ 

464 

30 

47 

69 

93 

30 

600 

494 

30 

y  G///dde.  260  ^a/'ed  coddoTi  9 3,6 00  Md. 
ad  .45  

^^    ^t/Zd     ^'aya^/e     gA^o.      4,      ^uddo77i 
cyuoude  voTtad . 

^o.     Jot    Q//t(7de 

^^    <3/rii4i   zy^zMicedoTz    <oz    zefiattd 

^^    QfniA77ie7td    do    ^Szi/ueifioo/,     ^^o.     Qd, 

vzoAezaas    /Q2).y 

^^   Q/X^de.    cnazae-d     oti,     dea^     vot^fid  ojf 

zyeydoTv      ck     ^o» 

^^    QfTtdcozaTtce 9^'^^ 

^^   ^^todda77i    c^liot{^6     &7tdty     and 

drldt£^ .9^9.50 

^^    ^naiaed  on  taemhina     /O^'/   ..5 -60 
Q/c*7ioi4/7id  caitt€it  ovet 


50M2 


44,040 

2,300 

42,000 
5,344 

62 


3i 


03 


6q 


50 


4,0^9:  S5 


34,^06  54 


\ 


•   m    —      Ml—      «v 


77 


■asi 


»^  I' 


:.  S  ;. 


<i-.    ^^i/uaat 


4^      . 

at:  -Oi 

//    iyi    ^/  ©^0^,  35  //&:  46,42^  /Is.   (^a^ 

a^   '06\ 


caa'i 


67, 04^ 


3,223 


3,0^/7 


'  Qfec. 
// 

//     /^ 


4 


//  //  //       ^ 


^^     ^.^    ^e^ec'tAaM,  oA^o.   ^^ 

Qlcn77ian,   23  /i/lc7.   at  0^^ 

^lYfrj.   >^eceiva//e,    Q^i/o.  9 

''               ^/                //      3.,.  Jo  0.00 
Q/ziteie-st  on  ao- 4,(^6 


^0 


2i 


36 


73,2<i9 


''    25 
''    26 


// 
// 


// 


7r^/n,    xyage  on  accou/?i^. 


^o   C'fc/  Q4e€L 


92,323 

240 

^0 

5,600 

2^,0^/2 

2, 024 
2,500 

^04 
7,500 


44 
~9 


50 


96 


62,0^5  i5 


76 


9 


en^^a. 


^. 


/^     . 


0^.  /6 


^*    20 

//    2^ 


\^ec. 


Q^^??ioccrU  vwuaht    07/et 

ly  Sreyto2i    A     ^o  a-.    &uiiet^    /ot  cnazaeii- 

/^/ 

^ief:^/u  071  ^50  fttfie^j.  TAtw     ^32,20 

Q^uty    and  €/^ei7na 3,245.4^ 

Q/^id^cotance  a?ia  i/oticy 332,  /a 

/^  ^yneido^i  ^  ^o.  /oz  c/za/t  at  dm/tt.. 
^/  ^tf/d.  ^/'at^.  g4^o,  S^  G/kzdidon'j.  c//t. 
//     Oyret^A   Q/Ccct.    Oa/ance   o^    /ta^tc/. 


34,^06 


54 


// 

V 

// 


4 

7 
40 


//    42 


// 


fi 


"    34 


^S7t  d-  azadt 

^ava//e  oA^o,   6 


// 
// 


lUii   xy  aye 

//  //  //      /. 


'f     G/^u/de.    ^o.    Q^,  het   ^tc^n^u^/ 

Q/ndutaozce 63.37 

^^udtoy?z  c^occ-je  Snttu  ana 

Q^iUy 294.38 


4,409  ^6 
25 


//,  099 
650 

22,323 


79 


5,466 


6,320 
300 


// 


d   xy  ayaote, 
Q/Titezedt  on  ao. 


;  qAo.  2. ,..3,000.00 
6.00 


// 


\'//d    0^aya//e,    QyVo.  9 ....7 ,659.52 
O/^itdt,    ^z.  jfot  dt^coccTU       76.59 


^^  ^,    r^Szf.      J^acK^on  OTi  accotiTU 

/'  ^^nazaed-  to   c:^.    c^zoTidOTt  Jot  ^eti^tces 
//  //  "Wni.    Q/^tAnafb       ^^ 

^f  gM^   Q/^cci, 


L. 


357 


^9 


75 


3,006 

7,5  S  2 

9,326 
500 
400 

2^ J 25'  2 1 


43 


62  0^5  25 


79 


\ 


tp 


©^, 


'^i^ioice 


J^aa/, 


.1 


Q//iCL^.   on  dann^    &U.    f,    /(i^       

^0  Itmcs^i-  ^^,000  i^^.    Mcce  ae    .06. 


^oua^^  c/  Sc/wazc/  ^ai^t^  on  out  no^s  al  60  c/aUiS^ 
^0  hiece^  3,^/60  jdc/<^.    catheltTia  a^    ^.00 

^  


^au^/u   (^uaaz  o/  ^a7}i€^  ^^aunionci  on  out  nole 
al  30  aau<i 

6  AU  ^,74^  X.  ai  .06  05J^AJi  /^^/.. 

/^  


^^ceiuec^ fiet  otc/et  /io7n  ^~Seoiae  ^ai^u/ii^on,  ,2Si<i^i' 
hoo/ 
30    fiteceii.     ^,S00     yd^.      Ona/cii^A    ^toadc/olA 
ai    5.00 

Q/Vov.   /  


ou^/u  op    ^.    c-2;      /ac^<i^on  on  30  aay^  cted^ 
^40  ^a/ed.   ^6,400  /^^.   co^lon  a^  .^4 


40 


£^€cet2/€(/  /io7n     ^tqdton     A     ^o.    <^ttAe7hoo/,     300 
cne-j^l^  op  ^ead  ad^  het    Q/^?iuofce   /  Q>€U.     46 y 
^9^4"/6=9    aeeiA'n^   ae  4.^4 


45 


^oc^^nl    &^icaat    o/  o/ia,  6Sio^i^n    o^    out    note    al 
3  7no7Un^ 

20  4/id.  23,64^  «^  al  .06 //,^/^.<^c^ 

25   //       40,294      ''     M 3,223.2^ 

35   //       46,424      //     .06\ 3,047.36 

/^  - 


^ouan^  ojf  Soiatcf  A  ^o.   on  ott^  no^  ai  60  aay^ 

46  /^  960  aa/.    Q/^/'a<ue^  ai  .35 0336.00 

iO  ^aAi.  45,634  /^.j.    "^oteon^^  .4^..J.3i4.42 
300  y€/^.  ^tfM4e/!j.  ^zfitnr^.  al  4.44^  .    335.00 


80 


44,000 


720 


6,320 


300 


6,000 


42, 096 


4,727 


22 


7.659 


^9^5 


52 


42 


Q/Vot>.  25 


Mece^ci   0/  ^Aaz/e4^    Jo/indon    pn    »xc4.an^  ^ 

Bolton 
42  hieced  6OO  yazc/ii-   ^lencA  mzoaclciom 

al  5.00 03,000.00 

^n  out  nole  al  3  mo, 
6 ca^ed-  2,650  yatc/d-  (Mt^ltna  al  . 67\- - 4,7^^-75 

. ■  2^  

^^cet^ved  /io7n  ^jPni.   0^aae  on  aocou/rU 
34  fi^ced  ^36 yazdii^  Q//KeidCtn  al  ,44 

Q^ec.  3 


0Sou^Al  0/  S^erny  ^^tc/iatcL  on  om  noU  al  3  mo. 
4,53^  uaic/d.  ^^u'n^d-  al  .09 • 


ofni/entozy  0/  o/iic/de.    ^ec.   34  48 

40  Ud  600 ^a/.  (^^/added-  al  .35 0240.00 

3  ca^e^  4 ,3 2 5  ydd.   (^atinel    //  .67\ ^94,37 

44  hcd^.  246      ''    Q/^i4^/i^  //  .44 34.4(4^ 

43^       //     €^z^rU<3.       ^^  .09 ^^'^^ 

400      ''    ^zfUTi^      ''  4.45 445.00 

400^     //  dSzdc/od^^  5.00 2,000.00 

47^0^4  2^,795 /If^^oilon  ^^      ./^ 5.0^3.40 


L. 


81 


4,7i^ 


447 


75 


04 


t 


•       \ 


i    I 


AS 


^J05 


29 


€a,  2,  'fi 


^  ///i.   ^.^/ at  ^0.50 

5  


&ro/d    /r/n.    'ty  cifie  on  ^t-j-  Tiote  al  60  c/a^ 
6  va^ii  coltori  at  SO.  00 


/i> 


^Jc/  /.    ^  /acl,on  SO  ML    <S?^oii  at   d\SO 

£/oeceti/€</  utii-  note  at  60  dauii- ^80.00 

xjauiTtce  to  ze7ndtTi  C7t    acct, 80.00 


// 


^^oca      /f^c/uam     Q2)avi^'-J- 

30  t^azie/!s   €^oi^  at  ^.30 0S4(J.OO 

t^^cecuec/  Acd-  fiote  at  ^0  c/ayii.    /^.^.J. 

20  

''^/(/'h fleet  f^ei    Q^'^Yu  Q/^A>wei,    Q/a/?, 
'^ea   to 


??ia?t,    a?ut    co?i= 


<^fa7Ma  {o   kyjioti/n    <A    ^o.    Q/fcti^    C/i(ean>j-,    to    vt 

<^0!a  o?t  oc^t  accouTzt  ana  itrj^K, 

^00  ///I   S^fout  at  4.:^5  /^.^.y 

25 


(^/tr'^ftec/  /lei  Qy^^ithattan,  0^attei-son,  an(/  co?i- 
4f^?i£</  to  S^/?}i^icUn  A  ^o.  ^o^ton,  to  It 
<iOui  on  ot^i  accoi4,7it  a?t<^  zt-^u 

60  ^a/ed.  cotton  at  40.00 

27  


(^Arfi^iec/ /i^i    ^/ac/uitot,      /a??isdon,   an(/  co?i-j-f'a7ied 
to  ^.    QSainu7n,    Sr^^it^ana,  on  acct.  o/ '^o.   Q^. 

^50  I'Ud.    e^oi^   at  ^.30  /^^/ 

(See  Entry  for  July  16.) 
J/  __ 


(^/tf'/f/icc/ fiei   ^tnc/ee?.,   ^t'n^fiant,  anJ  c<?n^/^n€d 
to    ^y/^.ot^iocit/t  ^    ^o.    S^aiAana,    to    ^    ^c/c/  o. 
out  account  and  zt>j^ 

592  {'t^L    S^ee/at    ^0.50  _. 


I 


82 


^4 


240 


466 


SOO 


S,400 


o 


,400 


^.245 


6,  J  ^6 


(^a^  'S^aaA. 


\  ^- 


qMi^.     / 


^o/d  ^/t<i^et    ^la/ta^n  o?i  4td.  note  at  4  niontA^ 
30    fiiece^,     "f ,200    yuic/d     SnaA-^d     ^i^adctotA 
at    ci\00.,. 

6 


!  <^Ud  ^/!ai/e-j-   ^Y/A/i^e^J^  on  /tt-J-    note    at    3    7nontn^ 
e7ic/oi-je(/  /^y   c^o7?iet    Q/C(/a7?7d 

6  Ud.    .tr^^  ^^.    0%2az   at  .09- 

. —  40  

(^/(f hided    fiet     Q^-jtott'a,     ^f/^aey,  to    ^.    Q^unCafi, 

,:^t^vezhooi,    on  accou7it  o/  '^o.    Qy€      ^ ^.y 
260  ^a/ed^  93,600  /^,    Cotton  at  .45.-044,040.00 
240      ^^    6%400      ''  J 4, ...4 2,096.00 

(See  Entry  for  July  16.) 
.  4i  


(^o/d  ^.    c=5?     /acdt^on  on  account 
430  c/iedtd  9,64^  Sd.    <£Yea  at  .09 

20  — 


(^o/d  (^lanctU  Qy^tton  on  fcM-  note  at  6O  dayd- 

400  ^aad  9,600  /A.    ^^//^  ^^  -^^ »•■ 

— —•  24  


^^o/'d  ^emy   (£^/io^nfido?h  on  nt^  Tiote  at  90  dayd^ 
70  ydd.  ^loadc/otA at  6.00 

B5 


Sxc'/f.anaed   ^ot'tn     ^/lat/ed    ^onndon  ^ot     Qf^iencA 
^ioadcifot/i30  ^a/^d  45,000  ^.    Cotton  at  .SO 

Q^6C.       5  


&^out    7f^7n.    &(zae  on  acccund 

6  Md.  360 ^a/.   Qy/6o/adde^  at  .40 0444.00 

3cad^d.  4,^54ydd.  (^ati:7iet''  .50 ,927.00 

^ fif^ced230y^^d.  Q/^i^Jtn  //  .46. 36.^0 

40  


^o/d  rSSicthez  cdCa/d-tead on  Ms  note  at  6O  dayd- 

^00 ydd.  fcz('?itd  at  .4 4 0^^.00 

400  //      catfistt'na  at  4,65 465. 00\ 


8a 


9,600 


7^7 


26, 436 


m 


32 


2,26^ 


420 


o. 


000 


fJ07 


253 


SS 


SO 


I 


H 


It  : 


I 


^a^  'Wood, 


^2 


300  ycL.   &cc'uUalJ^ ^33. Oa 

S60  //    Q^^ci^/t^f'  .i6 57'60 


// 


^o/cl  (^lefi/ien   S^at^fu  on  /jw  note  ad  pO  c/ayd- 

3  i^.^->  ^.^39  ^^.  "^0^071  ae  .90. 0367.^0 

200  yc/4.   (^lenc/i  SdioadM/i  ad  6.  00.. ^,^00. 00 
400    /''    ^aifiedi?i^  ad  i,65 ^65,00 


c/O 


60 


4,732 


^0 


84 


^am^mUjion  @/a/eJ  £^ae4. 


(!)a.  42,  /^ 


■6^o/cl  o/  Q/^zfan  A  ^o  d-.   con4t^rj[n7nenl  do   S^yrity 


\o2{/7i  07h  Alii-  node  ad  4  7nondnii  encdoi-d^ed  6y 
Q^imJy,  ^afied,  ^  ^o,  432  c/tea^  <£^ea 
46,000  /Is.  ad  .45 


24 


%fj  ojf  Q/^oiqan  A  ^o  d-,  conota7t77ie7td  do  ^o^n 
^au7wt  465  /zcece.^  32,500  yc/^.  ^C7ien  ad  .65 
^^eceti/ed  i<?i  fiaid  ;  ^^fchaic/  c^ayTzed-  cdia^d  ad 
60  aayd  on   ^exdet    &   ^o.    ^^.S^.y 


24 


<^aK>en  do    otiz    ot(/n    accound  o/  Q/fCataan   ^   ^o  -s. 
consi^n7nend  36  fii'eced-  4,^00  yc/d-.    &radtn  ad  02 


25 


(^o/d  Qy€t7}td07/,  ^ahed,  A  ^o.  dhe  zemamdet  cif 
Q/Moiaa7t  o{  T^  J-  co7idta7t77zend  on  d/iee^t  node  ad 
2  7710.   4 0  fi/eced  4,000  yd-j-.   SSioadctodn,  ad  2.50 

Q^Vo^.    4^  

(^o/d  o/  €^euton  A  ^o  d.  con^^yn?nend  do  ^ona= 
dfum  S^tc^J-  070  /u-i'  node  ad  30  dayd,  40  ftified 
5,040  aa/.    "J/^me  ad  4.95 

22  


^o  d.  co7VdtQ7l7ne7^d  do 


T 


Q^diu 


^dd  o/0^eydon    ^ 

Q/^ci7tn  on  /it'd   node  ad  60  daud,   60  fdfied  7 f  560 
nai.     //^^7ie  ad  4.84 


// 


<^a/d  'y/'^77z,    0^<Yae  on  30  dayd  ctedtl  d^  zeTTzaf'Tidet 
o/ €^e?idon    A   ^od  ccndtanmend  35  fitfied  4,440 
m/   ^7f^'7ir  ud  4.^0 


7,200 


24, 042 


50 


E 


85 


3,600 


2,500 


9,i'2!^ 


43,9^0 


40 


7,9S^ 


jb. 


^omni(j!jien   @v/^/&  JJjooA, 


0ec.    /(^ 


4J^       B2,4S2 


niii  nole  a^  30  c/a'ud 
(^ate.     qA%1,   QyVo.  ^.    <S^^« 
2.900       24,26^  al  .06 .  $4,276.  0^ 
2,692       49,740  //    ,06.. .4,4^4. 40 
4,496      40.972  ^f    .06^.,     743.4^ 
4,503      44,025  ^f   .07  ...     774.75 


S, 9^5  44 


J 


86 


Balance  Sheet-Exercise  V-July,  Aug.,  and  Sept. 

Estate  Accounted ^esoorces.       Liabilities.        Gnin  and  Loss  Accounts.  Losses.         Gaini,. 


Cash,  Dr.,.  ^125  876.88 
**      c>- 7:>i;G8.fll 


Mcc.  Uk.  Dr.   IdSJH.Go 
Cr  .    J  4,870  00 


Bills  Rtc.  Dr  J8  637«)5 
Cr    ]4,997.()5 


iVm.  Pdfre.  Dr 

Blacli  scales, 

Cr.     5,147.00 
Dr.        630.64 


52,908.87 

1,658.65 

3,640.00 
1,000.00 


Sh.  Prmce'w. Z>r$3y,0CO.OO 
Falued  at,  Cr..  39,000.00 


(• 


T;p  n'ii  Sales, 

Cr.     6  527  00 
Dr    1060.11 


mii^  Pay.  Cr. 

.LL.Jiiclison.  Dr  1,937.00 

K.  Jfladison,  Cr. 

J.  Barn  a m,  /> r    !  G  6^27.73 

Cr.  13  077.501     3,550.23 


O.Duidap.Dr.  'iil  161  89 
Cr.   14  077.50 


F.m'sonSrCo.Cr 
Broicn  S.CoJJr 
G.  Danidsun,Dr. 

Jitdse 

Skmt  to  Peyton 

S,-Cu.  J  Aver  pi 

*^   '  Sh.  Princeton . 

I  H.  Branson..   25,719.75 
j    /Fw.  Milnian.  50.1)00.00 
h\  Murdock.     74.280.25 


3,084.39 


5,600  00 
8,349.00 

14,000.00 

71,464  20 
39.  00.00 


4,516.36 


5,466.89 

19,224.20 

650.00 


JMvr,Crl7,080.18 
Mdse  Un- 
sold, CVJ4  000  00  31 ,080.18 

Mdse,  Dr 26.630  25 

Shipvi't  to  JSTew 

Orleans,  Cr..     5,600.00 
"     Dr..     3,670.58 


Shmt  to  Havana, 

Cr.     9:r40.00 
**  ♦'   Dr.     6,J,iO.0(( 


Sh^mt  to  Javct' 
pool,  Cr 8.349.00 

"  Dr.     4.250.00 


11.099.25 


Sh'mt  to  Pet/ton 
&  Co.  Liver. Drl\A()4.^\ 
Cr  71,464.2(» 


4,449  93 


1,929.42 


3,190.00 


4.099(>O 


Charges,  Cr. ... 
Dr  ... 


3,705.11 
9(i0.t,0 


Sh^mt  to  Hi  van  a 

Co.  Ji.  Cr. . . .     2  676.33 
"     Dr     l;;  19.20 


4( 


29.]  89.46 
56.745.21 


Jfldse  Co.  Ji,  Cr  26.. 350  00 
"    Dr  *23.2:2.50 

Mdse  Co.  B,  Dr  12  214.f!6 
'^      Cr  11314.22 


84,300  97  Sh'mt  to  Liver- 
pool Co.j3,  Cr  13.210.49 
"     Dr    7.6;i2.2{) 


a 


I 

f      — 


„_ ^^ 


211,192.34  211,192.34 


Sh'int  from  Liv. 
to  Hav.Co.A.Dr^).{)m.m 
"      Cr     5,000.00 

Profit  <S-  Loss,Dr 

J^et  Gain — 

(  Branson's  13  469.71 
KJfflman's      6  745  21' 
(  JMurdock's  10.0-20  72 


90074 


2,805.11 

1,357.13 
3.077.50 


1,000.00 
4,350.00 


5,578.29 


20.235.64 


'26.486.38i26,486.38 


S^Mt   1  .  ^        tV  -•4-'«-^0-3=80</.50.     In   ihe  same  manner,  under  the  <l;tte  of 

»I'fysU'Jc',r.i;ngIy:'""""^  '''"'  "''  '"^  "''  ''""""'''  «5099.25,   H„d  enter  ,■.  in  the 

r„.^",''*!■'■'"',*,•~'';•"^''  P;irtner-s  shi.re  of  the  net  SMin.    according  to  the  asreemenl    Is 
n  t  Le-!'t"  ,    [.,  "  r',"""<'.'''^.'l /"','■•    ■'""'•  «"'"  "f 'he  i„ve..m,ents  i.s  to  e.^h  .mr.ner's 
iineMiiie.it,  MS  the  w'lole  tfni.i  is  to  ins  portion  of  it.    See  imge.s  I.5S-163  inclusive. 


Trial  Balance— Exercise  VI— Oct.,  Nov.,  and  Dec. 


OCT.,    NOV.    AND    DEC. 


Unsold. 


..... 


126.S23.55   Cash  . 

1,658.66   Mechaiiics^  Baitk 

77,557.43   Bills  Rec 

44,314.69   Ship  Princeton 39,000 

90,076.30   Mdse 8,405.29 

H.  Bro7iso7i 

TFm.  Mihnan 

F.  Murdoch 

10,045.80    Wm.  Page 

3,564.30   Shipment  to  New  Orleans. . 

6,410.30   Shipment  to  Havana 

39,620.61    Bills  Pay 

71,464.20    Shipment   to  Peyton  ijc  Co., 

Liverpool 

900.00   Charges 

5,466.8y    /.  Toppen 

4,516.36    G.  Black 

15.553.74   J,  L.  Jackson 

650.00    E.  Madison 

13,802.17J- /.  Bnrnmn 

28,939.861- G.  Dunlap 

446.10    Shipment  to  Havana  Co.  A^ 

6,406.351- Mdse.  Co.  A 

11,099.25   Emerson  (t  Co 

8,925. 84J- SInnt  to  Liverpool  Co.A... 

8,536.21    Brown  d:  Co 

8,349.00   G.  Davidson 

24,976.86    Morgan  (t  Co 

253.00   Projit  and  Loss 

2,447.69   Ship7nent  to  Boston 

63,426.37    Peyton  d:  Co 

9,448.14   Morgan  dc  Co.'s  Sales 

c,882.42   Peyton  d:  Co.'s  Sales 

6.00   Litercst 

1,340.00    Woolworth  d:  Co 

3/16I  39    Hampden  d:  Co 

701,569.48J 


97,498.30 

26,685.60 
8,194.00 

87,768.57 

29,189.46 

56,745.21 

84,300.97 

7,917.04 

2,936.21 

7,340.00 

50,532.90 

63.426.37 
3,692.91 
6,466.89 
4,51636 

12.816.00 

660.00 

3,813  28 

1,688  16| 

88000 

6,969.41 

11,099.25 

11,483.53 
6,600.00 
6,000.00 


3.161.39 

34,220.44 

34,425.00 

35.267.40 

123  54 

S. 161,39 
701,669.48j 


S6aa 


1 


h 


INVENTORY  AND  INVOICE   OUTWARD. 


1 


45.  Inventory  of  Mdse.  on  hand  Oct.  I,  18     . 

600  ^/^^ee/  at         0^0.50 06,300.00 

iOO  "   ^/ou^  "  ^-^5 SJOO.OO 

S00'>  &0ti  "  ^-30 i, 660.00 

66  i^fe^  Cotton  "  40.00 ..S.6A0.00 

(^oia/amoum  /fv.    7^/ 0^,000,00 


46.  Invoice.  This  is  a  catalogue  of  goods,  with  their 
qualities,  prices,  &c.,  to  which  is  usually  annexed  all 
charges  upon  them.  An  invoice  should  always  accom- 
pany  a  consignment,  and  whoever  makes  out  an  invoice 
should  retain,  in  his  original  entries,  all  the  particulars 
comprised  in  it.  The  invoice  of  goods  received  on  com- 
mission should  be  kept  separate  from  our  Invoice  Book 
proper,  and  it  may  either  be  copied  or  filed. 


efnvoM    (J  500  ^aAi-  o^'^oUon  Atfi'^ 


S60  ^3,600  <«&.  ai  .iS 

S40  S6J00   "  "    •'f^ 

'^hatge^      — ■ 

^toie-z^fo  fwt  ^a/e  J  S\ 06^.50 

^azia^     ^^        ^^      .0^ ^^'^^ 

^elly  0xhe7i^:i^4 - S.50 

^oTnmt/sion/ - 5  3 5.  Do 

Suct4   SxcefUed,   G^^rn^   ^ozi,  Q^oz^,   /c^      . 


87 


Q^o, 


Q^iati/^i  d-   Q^Va 


a7ne 


3 
4 


^  .=^.      facA-son 


fna^anau/n 


au 


q4^o.\  Q^i 


latt^i  d 


Q^c 


a77l6 


/ 

C'uiiiet'i^e^ 

2 

// 

s 

// 

4 

// 

5 

// 

i/ciyuoie   Q/o 


Gn    y/^hom   Q2jtatipn> 

Q^7tO€4/rU 

^00 

// 

^,600 

// 

ioo 

// 

^,040 

Q^7, 


7noi4/fU 


2,300 

3,000 

^2,000 

^J24 

600 


SO 


8W 


I 


,£^44/4     ^/tecei^va^me. 


0a^0 


U7ie 


// 


Q/€t4^ 


24 
// 

4^ 


^- 


its 


qA^ot^  24  // 
//   // 


^5 


€77te 


d^etnatd^- 


Q^c 


a^ 


/"■^y 


// 
// 
// 
// 


5 
6 
6 
6 

i9 


Q^i 


us 


// 
// 


4  9710. 

4  f7tO. 

//  // 

S  // 


Q2)€4h0d€</  ^f  jf^^    C€uA, 


// 
// 


// 
// 


7 


/iMe, 


oA^O'iA.    5,  /^ 

Q)e€.     6  // 

G^OV;     6  // 

€a.      6 


^^ 


€r7^6 


Sivenia,tm4^ 


4  tTio.   ^^{/eentecl  vy  cci^A 


5     '' 
4     /^ 

S   /^ 


// 
// 
// 


// 


89 


t    si 
J  .:! 

ri  .:  '* 
I  '1 

i 


ft 


P. 


INVOICE   INWARD. 


ana  ttii^n,  oj^  t^iofid^on^  Q/7oU9fta7v,   ck     <6^. 


/SO  c4e^^-j.  ^/acd,  nei.   p,64^  j^. 
al  9c/.    

70  cne^l-s     '^leen,    ne^,    7 ,AoQ    tiud. 
a^  oc/.    ,---. 

"f  00    cnei)^^-3     ^//oe^nn^     c^u-i^orv,     net, 
i,260  /A,    al  /OJ.    


T 


GoUc<f-    o/  c^aatna 


xyacA't^n^  OTie  cneiil 


'^atla 


T 


7r/uzi/aae  and  ^f/it'hhvTia. 


<^c 


o?n7ntj->to^ 


?t  9  he 


z    ce7vC. 


(^o   l^e   Q^e^a  o/ 

i^iOTi-son,    Q//i&/r}ia7i   ^   '^o- 


QO 


2 

4 


S 


^ 


5 


0 
6 

3 

6 
4 


^e 


36i 


24^ 


344 


9 


984 


46 


i9 


S 


/O 
6 

46 


^ 


4 


7 


a 


ACCOUNT   SALES. 


47.  AccouNTT  Sales  is  a  minute  statement  of  the  sales 
of  goods,  and  of  the  expenses  incurred  by  the  sales.  The 
Sales  Account  refers  to  the  original  entries  from  which 
the  particulars  are  gathered.  The  consignee  makes  out 
an  account  sales  to  his  employer,  the  consignor. 


Q^ec,     'fi 


0€c.    B3 


(^o/c/  ^Aai/e^    oA^e^on    on    HM-    nole    a^ 

30  aaud 
/id,    ^io-J-<}.    <^aze  qA^U  /^^.    (^uaat 

/5  ^4,^6^  ^,900  Sij6^  al  .06  4,^76.0^ 

44  ^9,43!^  ^69^  49,740  ^^  .06  4,4^4.40 

^  42,46^  4,496  40,97^  ''  .06\    743.4^ 

^  4S,5S^  4,503  44,0^5^^  .07      774.75 

^o/ci  Q/^.    Q^eTiniaTi  ^oz  ^a<^A 

S3    nna.    Q/uaat  al  poo .-.--- 


Q^ec.     40 


^^natged  — 

^  S^.  Smiiy  <^  Q)iat^ fS9'i.3i 

Q/n<i^tcta9ice -- 63. 37 

,:2ii/oi  44^.34     ^o/iem^ 9^.33...S46.67 

0Ut     '^077l7n€^^€07l/ ^98'  47 

Q/Tzleiedl  07Z  ca&n  cnaz^ed  lo   /an.  o.  .S.OS 

gA  el  hioceead-  atte      Jfan  o,    48 
\  lo  ide  ^t.  o^ ^'    S^az^am... 4 ,6^^.46% 
\       a         ^/  ^    Q!fan/a.fi...4,6^^.46% 

oA^euA    ^^oti,    Q^ec.    £3,    4^      . 


3,945 


^,0^4 


4^ 


5,969 


904 


44 


s.i, 


% 


5,064 


94 


50 


L. 


The  note  runs  to  Jan.  17 ;  and  the  cash  is  due  at  the  sale,  Dec.  23. 
(Art.  52,)  From  Dec.  23  to  Jan  17,  =25  days. 

2,024-00  X25=50600-00 
3,945.41+2024-00  =  5969-41 
50600-00~5969-41rr:9  days  nearly. 
The  amount  bec(  mes  due  Jan.  8,  or  9  days  previous  to  Jan.  17. 

♦  Errore  Excepted. 


E 


m 


f.-i 


t  i 


ACCOUNT    SALES, 


<3€. 


^Vov.  /<^ 


Q/oici    ^onauLaTb     c:^tcK'<)-    on  nt^i-  no^  a^ 


30  c/ayii- 


// 


// 


^0 


2^ 


/^ 


^6 


// 


BS 


40  fitfieii.  5,040  aa/.   al  /.^5 

45  fitfied^  4,^p0  ^a/.  a^  4.g0 

^otd  Q/tc/itan  Q/fcunTi  on  ntd-  no^e  at  60 


aayd- 


60  fitfied.  7,560  aa/.   at  ^JA 

&^u/    /r7?i.    'Sraae  on  SO  c/aud-  czec/u 
35  ftr'^  4,4^0  aa/,  at  ^JO  ... 


^ie^ya  on   450  fiified   "Jftne..  .0^3^.20 

Q^iay  anc/  ^ei?na 3,^45.4^ 

o/^/i-Jutance  anc/  €^o/tcy 332.4^ 

S^wdetaae 324.64 

^oo^taae 39.40 

Qy€c/i'ei^t.Jtna  am/  &odlaae 6.3^ 

C/ut  co?}i77itddton  al  3  fwt  cent. ..4 ,05^.  OS 
Of/Ueiedt  to   Q^ec.  29  on 

c/iazged 36.^7 

Of/Uetedt  lo  c/o Q^.^. ..,.4 0.25 


OA^el  hzoceec/d    to    ^i.   0/  'Cre^jtan    A 
G^VeuA   ^oti  Q^ec.    22,   4^ 


o: 


iA 


icndon  Q//&U7nan    A 


o. 


pj2^ 


S,5P4 


43,940  40 


r,93i\ 

35,267\  ^0 


5,i^2 


42 


9^ 


{Art.   52.)  From  Dec.  18  to  Jan  21,  =34  days, 
"     Nov.  20         "  =  62     ^^ 

**     Jan.   21  "  =0     " 

"     Dec.  22         "  =30     " 

9.828X34=334152;  3591X62=222642 
7,938  X30=238140  ;   7949-34^35267-40=23 
the  number  of  days  previous  to  Jan.  21. 


92 


f 


ACCOUNT   CURRENT. 


48.  Account  Current  is  a  statement,  usually  in 
Ledge^  form,  which  embraces  the  original  history  of  all 
the  transactions  between  two  parties  or  firms,  and  the 
Ledger  refers  to  the  entries  from  which  it  is  drawn. 

SSion^on,   G^U7nan    A   ^o.    Q/retiA   ^^^ot£. 


4^ 
2 

// 

42 

Q/Vo^. 

4^ 

QSec. 

42 

// 

46' 

// 

34 

Q^z. 


// 
// 


Q/o   Q^c^zcnand&^e  on   accou-nt 

^  M/.j^.  ^ee^ at  30  c/ayd 

6Sa/ance  0/  20  /^.    €Poti  at  ^.30., 

//    430  c/ie.^t-j.9,64^  /A.    (S^ea  at  .09 

/ ^    xy^it7itj-  anc/  Q///ccdU7id 

^^    ^had/i.  07t  accotcnt 

Q2)zadt    at    dtaht     on    cToanthatyTt     A 
^o 


'«. 


SSu   40  tt'ezced  £^cc6  at  3  77to 

//   240  ^/ed.   Cotton  at  30  c/a 


T- 


aiance  cius. 


SSiondon,   Q^U77tan    A  ^o. 

^el  2t  /<^      . 


^,937 
^4 
i6 

90 
9,326 

3,464 


45,553 

720 
42, 096 


2,737 


32 
60 
43 

39 
T4 


74 


Art.  53. 


1,937-      X136=263,432 

84-      X  62=     5,208 

%^^      X  81=     6.966 

868-32X  44=  38,206 

90-60X  20=     1^812 

9,326-43X  14=130,570 

3,161-39X  0= 


720X  0= 
12,096X61=737,856 


15,553-74 


446,194 


12,816 


737,856 


737,856—446,194=291,662;   15,553-74— 12,816=2,737-74 

291,662-^2,737=106. 
The  balance  therefore  falls  due  106  days  After  Jan.  1,  it  being  Apr.  17. 
,       Art.  b^,     2,737-74-T-1009i=$2,7l2.42  Cash  Balance  Feb.  28,  at 
j  eettiement. 

98 


..'tC 


N 


r-^ 


MERCANTILE    RULKS. 


49.  The  Stadeni  should  now  be  required  to  examine 
the  record  beginning  Jan.  10,  p.  12,  and  closing  Sep.  30, 
p.  69,  and  tell  promptly  where  the  transactions  for  each 
month  should  have  been  entered  in  Books  of  Original 
Entry,  and  then  enter  then  accordingly,  (Art.  44), 
(p.  7b.)         - 

50.  It  would  be  a  useful  exercise  to  determine  the 
entries  which  should  be  made  by  every  person  concerned 
in  each  transaction.  Let  the  Student  begin  the  record 
at  p.  12.  We  might  offer  farther  suggestions  in  regard 
to  the  manner  of  tracing  this  subject,  but  the  instructor 
who  regards  what  has  been  already  said,  will  naturally 
add  su'ch  other  forms  and  exercises  as  may  be  thought 
necessary. 

51.  Equation  of  Payments.  Multiply  each  debt  by 
the  number  of  days  from  the  date  when  due,  to  the 
latest  date  when  any  debt  becomes  due.  Divide  the 
sum  of  the  products  by  the  sum  of  the  debts,  and  the 
quotient  will  give  the  number  of  days  when  due,  count- 
ed back  from  the  latest  date. 


52.  Balance  of  Account  Sales.  Find  the  equated 
time  for  payment  upon  the  sales  (Art.  51)  ;  and  then 
increase  the  charges  by  the  interest  upon  them  up  to 
the  equated  time.  Deduct  the  Charges  thus  increased 
from  the  Amount  of  Sales^  and  the  balance  will  be  due 

at  the  equated  time. 

Remark.  AYhen  a  credit  is  allowed  on  part  or  all  the 
Day  Book  Charges,  interest  upon  them  is  not  added. 

53.  Balance  of  Account  Current.  Find  the  sum  of 
the  products  which  arise  from  multiplying  each  entry 
on  the  Dr.  side  by  the  number  of  days  from  the  date 
when  due  to  the  latest  date  when  any  entry  becomes 
due  ;  find  in  the  same  manner  the  sum  of  the  products 
on  the  Cr.  side.  Divide  the  balance  of  the  products  by 
the  balance  of  the  account,  and  the  quofent  will  give 
the  number  of  days  when  the  balance  is  due  before  or 
AFTER  the  latest  date  :   Before  that  date,  when  the  greats 


mercantile  rules. 


er  side  of  the  account  also  gives  the  greater  sum  of  the 
products  ;  but  on  the  contrary,  After. 

54.  Interest  Balance.  When  the  equated  time  for  a 
payment  of  the  balance  is  already  past  (Art.  53),  the 
interest  up  to  the  present  date  will  be  the  Interest 
Balance. 

55.  Cash  Balance.  At  the  time  of  settlement  it  is 
usually  found  that  the  balance  of  the  account  is  due  at 
a  date  already  past,  or  at  a  future  date  (Art.  53)  ;  in 
the  former  case,  we  find  the  amount  of  the  balance  up 
to  the  time  of  settlement,  and  in  the  latter,  the  present 
worth;  in  either  case,  the  result  will  be  the  Cash 
Balance  at  settlement. 


PRACTICAL  EXERCISES. 


1  A  owes  B,  Jan.  5th,  $600;  Jan.  20th,  S500 ;  Jan.  28th, 
S800  ;  Feb.  15th,  $90  ;  Feb.  20th,  $2m.— Required  the  equated 
time. 

2  A  enframed  to  pay  B,  on  the  Ist  day  of  Jan.,  $300  ;  15th  Apr., 
$400  ;  lOtTi  May,  $600  ;  15th  May,  $900.— RcQuired  the  equated 
time. 

3  In.  makino-  up  Account  Sales,  we  find  the  sales  are  as  follows: 
AucT.  6th,  $300  ;  Aucr.  20th,  $200 ;  Sept.  12th,  S400  ;  Sept.  20th, 
S60l);  our  commission  and  charges  $90.80.— Required  the  baU 
ance  and  equated  time. 

4  Sohi  John  Brown,  in  1850.  merchandise  due  as  follows  :— July 
10th,  $500  ;  July  20th,  $350  ;  Aug.  5th,  $650  ;  Aug.  26th,  $580. 
Received  of  him  on  account,  July  15th,  $300;  Aug.  18th,  $600  ; 
Sept.  10th,  $200. — Required  the  equated  time  and  cash  balance, 
Sept.  20th. 

5  On  setilino-  accounts  with  James  Brady  and  Co.,  Oct.  20th, 
1851,  we  find  him  Dr.  Jan.  8th,  $200;  Jan.  12th,  $100;  Feb.  4th, 
$800 ;  Feb.  12th,  $500.  He  is  Or.  Jan.  5th,  $200  ;  Jan.  17th, 
$500;  Feb.  13th,  $900  ;  Feb.  15th,  $800;  March  1st,  $1,200.— i?e- 
quired  cash  balance  at  settlement. 

6  \  and  B  at  settlement,  Nov.  15th,  1850,  found  their  accounts 
standincT  as  follows  :  A  owed  B,  March  10th,  $300  ;  March  25th, 
$200;  April  9th,  $500;  April   13th,  $600;  May  3d,  $1,200;  May 

.  7th,  $200  ;   lune  1st.  $400.      B  owed  A,  May  6th,  $800  ;  May  11th, 
j  $300  ;  May  20tli,  $500.— -Required  cash  balance  at  settlement 


9.5 


r^ 


r' 


{.■     ! 


4. 


u 


EXERCISES  FOE  THE  STUDENT. 


57.  The  uses  of  the  bills,  receipts,  and  other  instru- 
ments given  in  the  following  examples,  have  already 
been  pointed  out,  and  the  Glossary  has  been  referred  to 
for  their  deiinitions.  We  shall  now  introduce  exercises 
I  in  drawing  out  or  making  them,  and  close  with  a  reca- 
'  pitulation  of  the  whole  subject.  Where  dates  and  places 
are  not  given  they  must  be  supplied. 

EXAMPLE  I.— Bill  of  Purchase. 


Warren  0.   Williains, 


New  York,  Nov.  15,  18     . 
Bought  of  Pratt,  Woodford  d:  Co. 


15  Doz.  Palmer  s  Practical  Book-keeping,  at  $5.00  $75.00 

15     ''     Sets  of  Blanks,  at  %'^.m            .         .         ,  45.00 

20     "     Palmer's  First  Lessons,  at  %\.bO          .  .     80.00 

20     "     Sets  of  Blanks,  at  ^\.bO          ,         ,         ,  80.00 


$180.00 


Received  Payment. 


Pratt,  Woodford  d'  Co. 


PRACTICAL  EXERCISES. 

1.  John  White  hounrht  of  Day  &  Co.,  20  pieces,  1,000  yards 
broadcloth,  at  S3. 28;  6  pieces,  -210  yards  satin,  at  $2.54;  and  14 
pieces,  400  yards  muslin,  at  16c.  Paid  the  amount  and  took  a  re- 
ceipted hill. — Required  the  form  of  the  bill. 

2.  Henrv  Maxwell  bought  of  Brown  &  Co.,  on  account,  16  hbls. 
pork,  at  S9.50  ;  35  bbls.  beef,  at  $10.45  ;  18  hbls.  flour,  at  $3.75;  25 
firkins  butter,  at  S  12.25  ;  6  chests  tea,  at  S28.40.  The  amount  was 
"  charged  in  account." — Required  the  form  of  the  bill. 

3.  Abraham  Winchell  bought  on  his  note,  of  Adams  &  Co.,  5  hhds. 
molasses,  300  gallons,  at  37ic.  ;  20  bags  coffee,  850  lbs.,  at  13c.  ;  13 
bales  cotton,  5,800  lbs.,  at  18fc.  The  amount  was  "  settled  by  note." 
— Required  the  form  of  the  bill. 


EXAMPLE  II.— Receipt. 


New  York,  Jan.  3,  18     . 

Received  of  Henry  Davis,  on  account,  One  Hundred  and 
Thirty -six  Dollars. 

Bronson.  Milman  d:  Co. 


96 


NEGOTIABLE  NOTE. 


PRACTICAL  EXERCISES. 

Buffalo,  Aug.  4,  18     .     John  Brow^n  receives  two  hundred  dollars 

of  Henry  Wilson,  in  full  of  all  demands Andrew  Green  receives 

of  Hiram  Gordon,  thirty-five  dollars,  the  annual  interest  on  a  bond, 
(endorse  on  the  bond.) William  Davis  receives  one  hundred  dol- 
lars of  Charles  Smith,  on  account Stephen  Blackman  receives  of 

Joseph  Cary,  forty-five  dollars,  in  full  for  carpenter's  work Sam- 
uel Osborne  receives  of  Rodman  Dexter,  eight  cords  of  wood,  in  full 

of  contract Ezra  Newman  receives    forty-nine  dollars  of  John 

Bogardus,  in  part  payment  of  his   note,  given  on  the  13th  inst.  for 

merchandise.      (Endorse  the  not^  by  the  receipt.) Horace  Whea- 

don  receives  ninety  dollars  of  William  Benson,  by  the  hands  of  Geo. 

Dill Warren  Alison  receives  of  Eli  Potter,  in  trust,   eight  bbls. 

flour,  to  be  delivered  on  return  of  ths  receipt W.  H.  Spier  pays 

L.  H.  Wyckoff  fifty-one  dollars George  Henry  pays  F.  Day  three 

hundred  dollars  to  apply  on  a  note. 

EXAMPLE  lU.— Order. 


New  York,  Sep.  3,  18     . 
James  Henry,  Esq. 

Please  pay  to  William  Smith,  or  order,    Three   Hundred 
Dollars,  and  charge  the  same  to 


Bro7ison,  Milman  d  Co. 


PRACTICAL  EXERCISES. 

Newark,  July  25th,  18     .     Wm.  Long,  on  his  own  account,  orders 
Hiram  Jackson  to  deliver  to  David  Sprague   such  goods  as  he  may 

select,  to  the  amount  of  sixty  dollars Warren  Amos  orders  Charles 

Wood  to  deliver  to  Wilson  Patten  a  parcel  left  at  his  store  yesterday 

S.  G.  M'Mannus  orders,  on  his  own  account,  Messrs.  Brown  & 

Co.  to  deliver  to  the  bearer  such  books  as  he  may  select Ira  Jack- 
son orders,  on  his  own  account,  Messrs.  Newell  &  Co.  to  pay  George 

Fay,  or  order,  fifteen  dollars,  thirty  days  after  date Wm.  Davis 

receives  of  D.  Langdon,  an  order  on  John  Brown  tor  nineteen  dollars 

M.Holmes   receives  of  D.  Terry,  an  order  on   Abel  Frost  for 

thirty  dollars,  being  the  balance  of  an  account  due  him S.  Moore 

receives  an  order  of  James  Brown,  drawn  on   Peter  Kingsley,  for 
seventy-five  dollars.  

EXAlVi  PLE   IV  -Negotiable  Note. 


1900.  New  York,  Oct.  10,  18     . 

Three  Months  after  date,  for   value  received,  I  promise  to 
pay  Thomas  Brown,  or  order,  Seven  Hufidred  Dollars,  at    ike 

Mechanics^  Bank.  ^ 

Hoivard  Bronson. 


9^ 


^r' 


I 
i 


Ihi 


EXERCISES  FOR  THE  STUDENT. 


PRACTICAL  EXERCISES. 

Bangor,  April  10,  18  .  H.  Patten  promises  to  pay  Henry  Davis, 
or  order,  ninety-four  dollars,  three  months  from  date,  value  received. 
{Henry  Davis,  the  payee,  endorses  this  note,  and  then  negotiates,  or 
sells  It.) Brown  &  Co.  promise  to  pay  Howard  Bronson,  or  bear- 
er, thirty  days  from  date,  value  received,  three  hundred  and  fifty-six 

dollars Y.  Murdock    promises  to  pay  to  F.    Stephens,   or   order, 

sixty-tive  dolhirs,  ninety  days  after  date,  with  interest,  value  received 
../.Abel  Johnson,  for 'value  received,  promises  to  pay  Wm.  Miller, 
or  bearer,  at  the  Merchants'  Bank,  ninety  days  from  date,  one  hun- 
dred and  four  dollars John  Smith  and  Leonard  Howe,  value  re- 
ceived, jointlv  and  severally,  promise  to  pay   L.  Jackson,  or  order, 

ninety    dollars,  four   months  af^er  date,  with   interest Cornelius 

Smith  and  Moses  Day,  on  demand,  jointly  and  severally,  promise  to 

pay  Isaac  Nelson,  or"^ bearer,  eighty-five  dollars,  value  received ^ 

G.  Davis  receives  a  ne^rotiable  note  for  thirty  dollars,  at  the  hands  ot 
the  maker  or  drawer,  Ezra  Doolittle,  and  payable  at  his  otiice  in  Jay 
street Ezekiel  Troutman,  takes  J.  Dorsen's  note,  payable  on  de- 
mand, value  received. 

EXAMPLE  Y.—Note  not  Negotiable, 


$G00. 


^^ew  York,  July  3,  18 


Thirty  days  after  date,  I  promise  to  pay  to  James  Henry. 

Six  Hundred  hollars^  value  received, 

Howard  Bronson, 


PRACTICAL  EXERCISES. 

Boston,  Sept.  13,  18     .     John  Dennis  promises  to  pay  Wm.  Chat 

man,  on  ilemand,  thirty-six  d(. liars,  value  received Lewis  Whit 

man  and  Wm.  Armstrong  give  their  note  of  ei^jhty-five  dollars,  to  E. 

Wilson,  payable   ninety  \iays  after  date H.    M.   'Vexxy  receives 

Wm.  A.  Decker's  note  ot  thirty-five  dollars,  to  be  paid  in  pine  lurnber 
at  the  saw-mill,  on  the  lOlh  October  next John  Brown,  for  a  val- 
uable consideration,  gives  his  note  for  the  delivery,  on  demand,  of  a 
certain  pair  of  four  year  old  oxen. 

EXAMPLE  \\.—FormoJc  Check, 


l^r^Q^  New  York,  Oct,  5,  18     . 

The    Cashier   of  the   North    River  Bank,  pay   to  Henry 
Wilson,  or  order,  Three  Hundred  and  Fifty  DoVars, 

Bronson,  Mihnan  d:  Co. 


I 


98 


RET  OF  EXCHANGE. 


PRACTICAL  EXERCISES. 

Boston.  July  9,  18     .     Henry  Wilson  orders  the  Traders'  Bank  to 

pay  L.  Brown,  or  order,  twenty-five  dollars George  Lane  draws 

on  the  Citizens'  Bank  in  favor  of  Simon  Lownsberry,  or  order,  for  ^ 

thirty  dollars Stephen  Littlejohn  draws  on  the  Merchants'  Bank 

in  favor  of  himself,  or  bearer,  ninety  dollars. 

EXAMPLE  \ll.— Inland  Draft, 


13  000.  ^^^^  York,  Oct,  20,  18     . 

Thirty  days  after  sight,  pay  to  the  order  of  Brown  d'  Co., 
Three  Thousand  Dollars,  value  received,  and  charge  the  same  to 
the  account  of 


To  Henry  Davis,  Cincinnati, 


Bronson,  Milman  d:  Co, 


PRACTICAL  EXERCISES. 

Adams  &  Co.  draw  at  thirty  days  sight  on  Brown  &  Co.  in  favor 
of  Doolittle  &  Brothers,  three  hundred  dollars.  {The  drawees,  after 
accepting  this  draft,  return  it  to  t.he  payees,  who  call  it  an  "  Accept- 
ance.)  L.  H.  Mahan  draws  at   ten  days  on   Edmonds  &  Co.,  in 

favor    of    E.    G.    White,  eighty-six  dollars G.   Black  draws  at 

thirty   days,   two  hundred   dollars,  on   T.   B.  Hoyt H.  Sloan,  at 

sixty  days,  draws  two  hundred  and  forty-five  dollars  on    Benjamin 
Rankin. 

EXAMPLE  Nlll.^Set  of  Exchange,  or  Foreign  Draft, 


Exchange  for.  £10,000.  New  York,  Sep.  10,  18     . 

2\n  Days  after  sight  of  this  First  of  Exchange,  {our  Second 
and  Third  unpaid)  pay  \o  the  order  of  Peyton  &  Co.,  Ten 
Thousand'  Pounds  Sterling,  value  received,  and  charge  the  same 

without  furtlier  advice,  to 

Bronson,  Milman  <fc  Co, 

To  Johnson  &  Co,, 
Liverpool, 


Exchange  for  £10,000.  New  York,  Sept,  10,  18     . 

Ten  Days  after  Sight  of  this  Second  of  Exchange,  {First 
and  Third  unpaid)  pay  to  the  order  of  Peyton  d:  Co.,  Ten 
Thousand  Pounds  Sterling,  value  received,  and  charge  the  same 
without  further  advice,  to 


Bronson    Milman  d'  Co, 


;   T)  Johnson  d'  Co., 


Lithrjx 


H)L 


L 


99 


w" 


m 


EXERCISES  FOK  THE  STUDENT. 


Exchange  fo^   £10,000. 


Ne^ff  York.  Sept.  10,  18 


Ten  Days  after  Sight  of  this  Third  of  Exchange^  [First  and 

Second  unpaid,)  j^eiy  to  the  order  of  Peyton  d'  Co.^  Ten  Thousand 

Pounds  Sterling^  value  received^  and  charge  the  same  without 

further  advice^  to 


To  Johnson  d:  Co,, 
Liverpool, 


Branson,  Milman  cfe  Co. 


PRACTICAL  EXERCISES. 

Write  out  a  Set  of  Exchange  for  each  of  the  Drafts  under  Exam- 
ple VII.  The  drawee  and  payee  are  supposed  to  reside  in  the  same 
foreign  country.  Let  the  sum  be  given  in  the  currency  of  the 
drawee. 

EXAMPLE  \X,— Form  of  a  Protest, 


$3,000. 


New  York,  Nov.  8,  18 


Please  to  take  notice,  that  a  Promissory  Note  for  Three 
Thoumnd.  Dollars^  made  by  Edward  Brown^  Oct.  4,  1851,  and 
endorsed  by  you,  having  been  duly  'presented  arid  payment  thereof 
demanded,  whictt  was  refused,  is  therefore  protested  for  ^lon- 
payment,  and  that  the  holders  look  to  you  for  payment,  interest, 
costs,  and  damages. 

Jonathan  Pi  ice. 
To  Franklin  Hayes.  Notary  Public. 


PRACTICAL  EXERCISES. 

Write  out  the  form  of  a  Protest  on  several  of  the  negotiable  rotes 
in  the  Exercises  under  Example  lY.,  and  also  on  the  drafts  under 
Example  YII. 


*.^. 


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100 


EXAMINATION  PAPERS.— No.  L 

1.  Explain  how  Accounts  are  kept  in  Single  Ertry  by  Farmers, 
Mechanics,  Jobbers,  Professional  Men,  Merchants.     Where  are  the 

j  first  entries  made  on  opening  a  set  of  books  1     How  do  we  find  Stock 
I  Commencing?      Stock    Ending?      Net  Gain?       Present   Worth? 
]  Cash  on  Hand  ?     Bills  Receivable  on  hand  ?     Oer  own  Notes  Out- 
standing ?     What  persons  owe  us?     What   w^e  owe  them?     Total 
Resources  ?     Total  Liabilities  ?     Balance  of  the  Books  ? 

2.  Give  examples  of  determining  transactions  from  knowing  their 
Journal  entries.  From  knowing  their  Ledger  entries?  What  Jour- 
nal entries  are  made  when  we  redeem  our  ow^n  note  with  cash,  and 
are  allowed  discount?  Wlien  other  men  redeem  their  notes  of  us 
for  cash,  and  we  allow  them  discount  ?  When  we  discount  notes  ? 
When  we  have  notes  discounted  for  us  ?  When  we  buy  Merchandise 
of  Brown  &  Co.,  for  Adams  &  Co.'s  A_cceptance,  and  on  account? 
When  we  redeem  our  own  note  and  also  receive  cash  by  the  sale  of 
railroad  stock  ? 

3.  Explain  how  each  of  the  following  Accounts  were  opened,  con- 
ducted and  closed  :— Cash  ;  Bills  Receivable  ;  Bills  Payable;  Stock; 
Interest;  Mechanics'  Bank,  Wm.  Page;  J.  L.  Jackson  ;  Merchan- 
dise ;  Charges  ;  Interest  ;  Real  Estate  ;  Personal  Property  ;  Profit 
and  Loss  ;  H.  Bronson  ;  Wm.  Milman  ;  F.  Murdock  ;  Ship  Prince- 
ton ;  Merchandise  Co.  A.  ;  Merchandise  Co.  B.  ;  Black's  Sales; 
Tappen's  ;  Frisbee's  ;  Morgan  &  Co.'s  ;  Peyton  &  Co.'s  ;  G.David- 
son ;  Emerson  &  Co.  ;  Brown  &  Co.  ;  Peyton  &  Co. 

4.  Sold  Merchandise  amounting  to  $800  ;  in  payment  received  our 
own  note  of  $600,  being  allowed  discount,  $8.40,  "^and  the  balance  in 
cash. — Required  the  Analysis. 

5.  Accet)ted  Brown  &  Co.'s  Draft  on  us  for  $1,000. — Required 
the  Analysis. 

6.  Drawn  on  the  Mechanics'  Bank  $500. — Required  the  Analysis. 

7  Received  the  acceptance  of  our  Draft  on   Bowen  &  Co.,  $45C. 

— Required  the  Analysis. 

8.  Given,  Cash  Dr.  $12,000,  Cr.  8,000  ;  Bills  Receivable  Dr. 
9,000,  Cr.  4,000  ;  Bills  Payable  Dr.  3,000,  Cr.  6,000  ;  Wm.  Page 
Dr.  2,000,  Cr.  1,000  ;  Day  &  Co.  Dr.  2,000,  Cr.  3,000  ;  Merchan- 
dise  Dr.  8,000,  Cr.  9,000,  unsold  1,000;  Profit  and  Loss  Dr.  3,000, 
Cr.  4,000  ;  Charges  Dr.  2,000,  Cr.  2,000  ;  Interest  Dr.  2,000,  Cr. 
1,000  ;  Stock  Cr,  6,000. — Required  the  Property,  Debts,  and  Bal- 
ances of  the  Books. 

9.  Received  of  Brown  &  Co.,  Cincinnati,  to  be  sold  on  their  ac- 
count and  risk,  a  quantity  of  pork,  as  per  invoice,  amounting  to 
$2,995.  Paid  charges  upon  it,  $195.  Sold  the  pork  for  3,988, 
our  commission  amounts  to  $295,  and  w^e  wish  to  credit  Brown  &  Co. 
for  what  is  due  them. — What  are  the  debits  and  credits  ? 


101 


1:1 


3fENTAL  AND  SLATE  EXERCISES. KECAPITULATION. 


I 


EXAMINATION  PAPERS.— No.  II. 

1.  How  are  the  terms  Dr.  and  Cr.  to  be  understood  when  applied 
to  all  accounts  except  those  with  persons  1  Give  examples.  Explain 
how  a  merchant  can  keep  his  accounts  by  Single  Entry.  Enumer- 
ate the  Estate  Accounts.  Enumerate  the  Gain  and  Loss  Accounts. 
What  general  prmciple  governs  all  Gain  and  Loss  Accounts  ?  When 
do  we  debit  the  several  accounts  in  each  class  ?  When  do  we  credit 
them  ?  How  do  we  open  each  one  of  them  ]  How  do  we  close 
each  one  of  them  1 

2.  What  are  the  debits  and  credits  when  v^^e  compromise  an  Ac- 
count with  a  person,  and  receive  payment  only  in  part?  When  we 
compromise  and  receive  partial  payment  for  a  note  due  us?  Wlien 
we  compromise  for  a  partial  payment  of  our  own  note  1  When  we 
ship  Merchandise  for  sale  on  commission  ]  When  we  receive  Ac- 
count Sales  1     W^hen  we  spend  cash  for  private  expenses  ? 

3.  What  is  a  Trial  Balance  1  For  what  is  it  used  ?  Why  is  the 
unsold  property  set  between  the  columns  of  the  trial  balance  ?  W^hat 
is  understood  by  the  word  Exchange]  Bill  of  Exchange?  Set 
of  Excharifre  ?  Par  of  Exchanfre]  Course  of  Exchansre  ?  Pre- 
mium  ]  Pro-Forma  1  Promissory  Note  ?  Protest  ?  Policy  ? 
Acceptance]  Draft]  Stock]  Receipt]  Hotiored  ]  Dishonored] 
Balance]     Firm]     Order]     Check]     Abatement] 

4.  Brown  and  Co.'s  sales  are  debited  $1,350,  and  credited  $4,553. 
— Required  the  debits  and  credits  of  the  balanct-. 

5.  Received  from  W'^illianis  &  Co.,  Boston,  Account  Sales  of  500 
bbls.  pork  ;  net  proceeds,  $2,150. — Required  thf^  debits  and  credits. 

6.  Taken  to  our  own  account,  of  Clark  &  Co.  s  consignment,  20 
pieces,  1,000  yards,  satin,  at  S2.00. — Required  the  debits  andcredits. 

7.  Given  Cash,  $5,000  ;  Bills  Receivable,  $4,500;  Bills  Payable, 
$1,500  ;  John  Brown  owes  us  $1,650  ;  we  owe  J.  L.  .lackson  $1,000  ; 
our  Merchandise  is  valued  at  $3,600. — Required  the  debits  and 
credits  commencing. 

8.  Sold  Merchandise  to  J.  Brown,  amounting  to  S3, 000.  In  pay- 
ment I  received  Samuel  Johnson's  Note,  endorsed  by  W^m.  Page,  for 
2,000,  and  cash  for  the  balance.     What  are  the  debits  and  credits  ] 

9.  Closed  our  account  with  Brown  &  Co.,  by  Draft  at  sight,  in 
their  favor,  drawn  on  Wm.  Osburn,  amounting  to  $3,000.  What  are 
the  debits  and  credits  ] 

10.  Bought,  on  our  Note  at  6  months,  800  barrels  flour  at  $4.00. 
Shipped  the  same  per  Creole,  W'illiams,  consigned  to  Thomas  &  Co., 
New  Orleans,  to  be  sold  on  our  account  and  risk.  Cash  paid  for 
charcres  on  the  same,  $800.     W^hat  are  the  debits  and  credits  ] 

11.  Received  from  Denman  &  Co.,  Cuba,  Account  Sales  of  1,200 
barrels  beef.    Net  proceeds  $12,000.    What  are  the  debits  and  credits  ] 


L__ 


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102 


EXAMINATION  PAPERS.— No.  IH. 

1.  What  is  Single  Entry]  How  do  you  keep  a  Cash  Account? 
What  are  original  entries  ]  Explain  how  there  can  be  present  insol- 
ve\icy.  Explain  the  office  of  a  Journal-Ledger.  How,  and  when, 
do  Jobbers  close  their  accounts  ]  Tell  the  advantage,  or  object,  of 
keeping  each  of  the  Estate  Accounts.  Also,  of  the  several  Gain 
and  Loss  Accounts.  What  is  shown  by  the  balance  in  each  Account, 
and  where  should  it  be  entered]  What  is  the  order  of  performing 
an  Exercise  after  the  original  entries  are  made  ] 

2.  W^hat  accounts  are  debited,  and  what  credited,  when  we  lose 
merchandise  by  fire  ]  When  we  buy  Bank  Stock  for  cash,  our  own 
note,  and  on  account]  W'hen  we  sell  it  for  cash,  other  men's  notes, 
and  on  account  ]  Wlien  we  endorse  a  note,  and  take  a  bond  in  secur- 
ity ]  WHien  we  buy  goods  on  our  note  ]  On  other  men's  notes  ] 
On  account  ]  When  we  sell  goods  for  cash  ]  For  merchandise  ] 
On  other  men's  notes]     On  our  own  notes]     On  account] 

3.  Explain  how  Gain  and  Loss  Accounts  show  outlays,  returns, 
gains,  losses  ;  net  gain  or  net  loss,  present  worth.  State  each  of 
the  five  governing  principles  in  posting.  The  way  of  finding  the 
value  of  unsold  property.     Of  making  a  trial  balance  ] 

4.  Redeemed  our  note  by  draft  on  the  Merchant's  Bank,  $400. — 
Required  the  Journal  entries, 

5.  Received  in  cash  the  amount  of  Day  &  Co.'s  acceptance,  $1,000. 
— Required  the  Journal  entries, 

0.  Three  partners,  A,  B  and  C,  advance  portions  of  a  joint  capital, 
as  follov\s  :— A  $5,000,  B  $10,000,  and  C  $15,000.— WAa^  are  the 
debits  and  credits  commencing  business  ? 

7.  A,  B-and  C,  being  partners  in  a  commission  business,  desig- 
nated  Co.  A.,  reside  at  different  places.  A,  of  Boston,  ships  mer- 
chandise to  B  at  Havana,  amounting  to  $ldfiOO.— Required  the 
Journal  entries  of  A,  B  and  C,  in  this  transaction. 

8.  Received  of  John  Brown,  $300,  the  balance  due  on  a  bill  of 
merchandise. — Required  the  Journal  entries. 

9.  Received  from  Brown  &  Co.,  Cincinnati,  to  be  sold  on  their  ac- 
count and  risk,  a  quantity  of  pork,  as  per  invoice,  amounting  to  $3,000. 
Paid  charges  upon  it  $200.  Sold  the  same  for  $4000,  our  commis- 
sion being  $300.     What  are  the  debits  and  credits] 

11.  Closed  Johnson's  Sales  by  a  remittance  of  Cash,  $1,000. 
What  are  the  debits  and  credits  ] 

12.  Shipped,  per  brig  Atlantic,  to  Boston,  and  consigned  to  Johnson 
&  Co.,  to  be  sold  on  our  account,  a  quantity  of  merchandise,  as  per 
'' Invoice  Outward,"  $5,600.  Our  expenses  on  the  same  for  Insur- 
ance, Cartage,  and  Labor,  amount  to  $115.— Required  the  Ledger 
entries. 


108 


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ME:N^Ti^L  A:ND  slate   FXEKCISES. KECAPITULATION. 


EXAMINATION  PAPERS,  NO.  lY. 

1.  What  other  books  are  generally  used  when  the  original  entries 
are  made  in  the  Day-Book  ?  When  they  are  made  in  the  Journal  ^ 
VVhen  they  are  made  in  the  Ledger?  When  is  a  balance  in  our  fa- 
vor  ?  When  should  we  credit  cash  ?  Bills  Receivable  ?  Bills  Pay- 
able ?  Personal  accounts?  Stock?  Merchandise?  Interest? 
Profit  and  Loss  ? 

2.  What  are  the  Journal  entries  when  cash  is  stolen  from  us? 
\V  hen  we  cash  a  check  ?  When  we  give  a  check  on  a  bank  ?  VVhen 
we  receive  a  check  on  the  bank?  When  we  draw  money  from  a 
bank  ?  When  we  deposit  money  in  a  bank  ?  When  we  receve  cash 
for  freight  per  ship  Princeton?  When  we  lose  this  ship  by  fire? 
When  we  give  money  for  benevolent  purposes? 

3.  How  shall  we  avoid  errors,  and  how  shall  we  find  them  in  the 
Day-Book?  In  the  Journal?  In  the  Ledger?  When  are  notes 
said  to  be  shaved  t  Explain  how  we  find,  on  opening  any  account, 
when  and  where  the  original  entries  were  made.  When  and  how  we 
open  new  accounts.  How  do  we  open  company  accounts?  How 
close  them  ?     Why  balance  accounts  periodically'? 

4.  Explain  how  each  of  the  following  accounts  is  opened,  con- 
ducted, and  closed  :— G.  Dunlap  ;  J.  Barnum  ;  E.  Madison  ;  J 
Tappen  ;  Hampden  &  Co.  ;  Woolworth  &  Co.  ;  G.  Black  ;  Mer- 
chandise ;  Shipment  to  Liverpool  Co.  A.;  Havana  Co.  A.  ;'From 
Liverpool  to  Havana,  Co.  A.  ;  Shipment  to  Havana;  New  Orleans , 
Boston  ;  To  George  Davidson,  Liverpool  ;  To  Payton  &  Co.,  Live/ 
pool. 

5.  Sold  merchandise  Co.  B.,  amounting  to  %\, 200. —Required  tht 
Ledger  entries. 

G.  Sold  of  Adams  &  Co.'s  consignment,  500  bbls.  flour,  at  $5.20. 
— Required  tlte  Ledger  entries. 

7.  Received  from  Denman  &  Co.,  Cuba,  Account  Sales  of  1,225 
barrels  beef.  Net  proceeds,  $12, 21b. —What  are  the  debits  and 
credits  ? 

8.  Bought  goods  to  the  amount  of  $2,000.  in  payment  I  gave 
John  Brown's  Note  for  $000,  allowing  $20  discount;  my  own  note 
for  Si, 000,  and  cash  for  the  balance.  What  are  the  debits  and 
credits  ? 

9.  Closed  Johnson's  Sales  by   a    remittan(  e  of  Cash,  $1,000. 

What  are  the  debits  and  credits  ? 

^  10.  A,  B  and  C,  tocrether  purchase  for  cash  a  quantity  of  Merchan- 
dise, amountinir  to  $1,500,  and  share  equally  in  paying  for  the  same. 
What  are  all  the  Ledger  entries  of  the  several  parties  when  C,  witli 
a  commission  of  2  percent,  sells  the  Merchandise  for  $2,200 '^  $2  000^ 
$i,800?  Sl,400?  $1,200?  $800? 


MENTAL  AND  SLATE  EXERCISES. KEC APITUL ATION . 


V-  -. 


104 


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i'l 


EXAMINATION  PAPERS.— NO.  V. 

Explain  the  Day-Book-Ledger — how  it  is  used  as  a  Cash  Book  ; 
how  It  is  used  with  a  Cash  Book.  What  is  Double  Entry?  Ex- 
plain the  object  and  office  of  each  of  the  Estate  Accounts:  also  (»f 
several  Gain  and  Loss  Accounts;  how  these  two  classes  differ  ;  the 
basis  of  the  division. 

2.  VV^hat  are  the  debits  and  credits  wheu  we  receive  goods  to  sell 
on  commission  ?  When  we  sell  such  goods  for  cash  ?  For  other 
men's  notes  ?  For  our  own  notes  ?  How  do  we  close  the  Sales 
Account?  What  are  the  debits  and  credits  when  we  send  goods 
away  to  be  sold  on  commission  ?  When  we  receive  Account  Sales  ? 
What  use  is  made  of  the  words,  ''Sundries,"  "  New  Account,"  and 
''  Old  Account  "  ?     What  is  to  be  done  with  unsold  goods  on  closing  ? 

3.  How  does  a  consignee  close  a  Sales  Account?  How  does  a 
consignor  close  his  Shipment  or  Consignment  Account?  Which  of 
the  Estate  Accounts  show  Resources  ?  Liabilities  ?  Do  Estate 
Accounts  show  all  the  Resources  ?  Explain  how  we  post  from  the 
Books  of  Original  Entry.  Explain  how  we  continue  business  with 
the  same  Ledger,  after  balancing.  How  we  transfer  the  business 
from  the  old  to  the  new  books.  What  is  an  Invoice  ?  An  Invento- 
ry ?     Account  Sales?     Account  Current? 

4.  When  does  a  Draft  become  an  Acceptance  ?  A  Bill  Receivable  ? 
Bill  Payable?  W>ite  out  a  Bill  Receivable  ;  Bill  Payable  ;  Accept- 
ance ;  Inland  Draft ;  Foreign  Draft ;  Check  ;  Order ;  Receipt ;  Bill 
of  Purchase  ;  Write  John  Brown  a  receipt  in  full  of  all  demands  ; 
A  Note  for  the  balance  due  him  on  account. 

5.  Received  ^485  of  John  Brown,  being  the  face  of  his  note,  and 
$25  interest. — Required  the  Ledger  entries, 

6  Given,  Cash  Dr.  $28,759.34,  Cr.  $17,392.45  ;  Bills  Receivable 
Dr.  16,529.60,  Cr.  10,465.50;  Bills  Payable  Dr.  11,496.25,  Cr. 
15,265.90;  John  Nelson  Dr.  1,756.30,  Cr.  1,917.44;  Wight  &  Co. 
Dr.  10,475.60,  Cr.  12,864.94;  Stock  Cr.  15,893.71  ;  Profit  and  Loss 
Dr.  500,  Cr.  300;  Merchandise  Dr.  26,250.70,  Cr.  21,734.65;  Un- 
sold Merchandise  1,954.38;  Interest  Dr.  694.40,  Cr.  749.50; 
Charges  Dr.  759.65,  Cr.  637.75. — Required  a  Balance  Sheet. 

7.  In  a  company  concern,  A.  advances  Cash  $500  ;  Bills  Receiv- 
able, 650  ;  Merchandise  1,200.  B.  advances  Cash,  2,000;  Bills  Re- 
ceivable, 1,000  ;  Bank  Stock,  3,000;  Merchandise  bfiOO— Required 
the  Ledger  entries  commencing. 

8.  Redeemed  our  own  note  by  a  payment  of  $685,  which  includes 
the  face  of  the  note,  $650,  and  the  interest. — Required  the  Ledger 
entries. 

9.  Closed  our  account  with  Day  &  Co.,  by  Set  of  Exchange,  in  favor 
of  Reed  &  Co  ,  amounting  to  $5,125. — What  are  the  debits  and 
credits  ? 


105 


'iW 


•  i  ■ 


*  1  '. 


I   ': 


P 


I    I 


■    t 


MENTAL  A]S"D  SLATE  EXERCISES. KECAPITULATIOW. 


EXAMINATION  PAPERS.— NO.  YT. 

1.  What  is  Book-keeping  1  What  does  it  teach?  Explain  the 
?  diiierence  between  Single  and  Double  Entry.  Explain  the  office  of 
^  a    Cash    BooK  ;  Invoice   Book  ;  Day-Book  ;  Sales   Book.     How  do 

individual  and  company  concerns  ditler  in  opening  and  closing? 

2.  When  do  we  debii  and  when  do  we  credit  the  following  Ac- 
counts ?— Cash  ;     Bills   Receivable  ;     Bills  Payable  ,    Personal   Ac- 

I  counts  ;  Merchandise;   Real  Estate  ;  Interest;  Charges;  PrcHt  and 
)  Loss  ;  Stock.      Explain   each   method  of  deducing   Present  Worth. 
Explain  how  we  deduce  net  gain  or   net  loss.     \\  hat   is  understood 
by  a  bahuice  of  the  books  ?      How  do  we  open  a  set  of  books  ? 

3.  What  are  the  Journal  entries  when  we  sell,  for  cash,  a  draft  at 
par  ]  At  a  premium  "l*  At  a  discount  ?  When  we  purchase,  on  our 
noie,  a  draft  at  par  '\  At  a  premium  '?  At  a  discount  ?  When  we 
receive  Account  Sales  ?  When  we  render  Account  Sales?  When 
we  accept  a  Draft?  When  a  person  accepts  our  Draft?  When 
we  receive  Merchandise  of  Adanjs  &  Co.  to  be  sold  on  our  joint 
Account  ?    When  we  sell  the  same  for  cash  ?    How  close  this  concern  '^ 

4.  Explain  (pp.  1*2 — 47)  how  the  sum  of  the  debits  equals  the  sum 
of  tiie  credits,  in  a  transaction  ;  in  a  Journal  entry  ;  in  the  whole 
Journal;  in  opening  a  Ledger  ;  in  the  Trial  Balance  ;  in  the  Balances 
and  Unsold  Goods  entered  above  the  parallels  on  closing;  in  the 
Balances  and  Unsold  Goods  entered  below  the  parallels,  or  in  the 
New  Accounts.  Exphiin  how  the  Balance  Sheet  was  deduced,  and 
how  the  Accounts  were  balanced  from  it  in  every  Exercise. 

5.  Commenced  business  with  Cash  $2,500  ;  Notes  against  sundry 
jieroons,  3,000  ;  Merchandise,  2,000  ;  Bank  Stock,  1,500  ;  We  owe 
sundry  persons  on  our  notes,  1,800,  and  John  Brown  1,500  on  Ac- 
count.— Required  the  Ledger  entries. 

6.  Received  from  Adams  <fe  Co.,  London,  a  Set  of  Exchange, 
drawn  on  Howe  &  Co.,  and  payable  at  30  days,  $5,000. — Required 
the  Ledger  entries. 

7.  Given,  Cash  Dr.  S  15.000,  Cr.  14,000;  Bills  Receivable  Dr. 
7,000,  Cr.  6,000  ;  Bills  Payable  Dr.  3.000,  (>.  7.000  :  J.  Brown  Dr. 
3,000,  Cr.  5,000;  Stock  Commencing  Cr.  10,700;  Profit  and  Loss  , 
Dr.  12,000,  Cr.  4.000  ;  Merchandise  Dr.  15,700.  Cr.  0.000,  unsold 
l.OOO;  Interest  Dr.  800,  Cr.  600;  Charges  Dr.  600,  Cr.  800.— 
Required  a  Balance  Sheet. 

7.  Sold,  for  cash,  merchandise  Co.  C,  $1,000.— Required  the 
Ledger  entries. 

10.  Redeemed  our  own  note  of  ^596,  and  was  allowed  discount, 
$6  dO.— Required,  1st.  An  entry  m  the  Cash  Book;  and  2d.  The 
Journal  entries,  deduced  from  those  of  the  Cash  Book. 

*  Ans.     Debit  Oa.-h  and  Credit  Bills  Receivable  and  Interest. 


4 


"^ 


! 


I' 


BUSINESS  TRANSACTIONS 

Property  Real  and    Personal.-— Conveyances,  Mortgages  and 
Assignments. — Wills. — Apprenticeship.— Partnership. 
Citizenship.— Patents. — Copyrights. 

The  following  forms,  with  the  running  commentary,  will,  it  is  be- 
lieved, give  a  comprehensive  view  of  the  most  ordinary  business  af- 
fairs. They  are  designed  to  make  the  general  scholar  more  familiar 
with  business  transactions,  and  while  tney  afford  him  some  informa- 
tion and  assistance,  it  is  not  to  be  supposed  that  they  wdll  obviate 
every  dirHculty  ;  for  when  necessity  requires  a  more  minute  examina- 
tion, he  will  naturally  resort  to  the  experience  of  professional  counsel, 
while  these  exercises  serve  to  render  such  explanation  more  satis- 
factory and  simple. 

Although  they  present  subjects  quite  different  from  book-keeping 
proper,  yet  for  practical  purposes  they  have  the  same  claim  upon  the 
Student,' and  will,  we  trust,  be  quite  as  eagerly  pursued.  The  mar- 
ginal Analysis,  or  tcpics,  were  designed  to  aid  in  the  recitations  ;  but 
the  intelligent  teacher,  who  has  arrived  at  this  portion  of  his  work,  will 
require  no  hints  in  reference  to  the  method  of  teaching  the  same. 


I0<> 


107 


/.« I  » 


fW 


I  i 


.'I 


FOP  VIS  A^^'D  EXPLANATIONS. 


^^rti*  Deed. 

Data  ®')i5  inbcuture,  made  the  twenty-fourtli  day 

of    March,    one     thousand    eight    hundred    andi 

rarties.     ^^^Y'^^^j    between    John    Smith    and    Mary    his! 
wife,  of  the  City  and  State  of  New- York,  of  the! 
first   part,  and  William  Hunt,  of  Eoughkeepsie, ' 
Dutchess  County,  Attorney  at  Law,  of  the  second 
part : — 

toitlUSSCtI),  that  the  said  parties  of  the  first 
part,  for  and  in  consideration  of  the  sum  of  two 
thousand  dollars,  lawful  money  of  the  United  I 
States,  to  them  in  hand  paid  by  the  saiJ  party  of' 
the  second  part,  at  or  before  the  ensealing  and  de- 1 
livery  of  these  presents,  the  receipt  whereof  is 
hereby  acknowledged,  and  the  said  party  of  the 
second  part,  his  heirs,  executors,  and  administra- ! 
tors,  for  ever  released  and  dischargiuJ  from  the! 
same,  by  these  presents  have  granted, 'bargained, 
«old,    aliened,    remised,    released,  conveyed,  and 


Conside- 
ration. 


Receipt. 


Transfej 


x/e^u. 


Delivery. 


Power  of 

the 
parties. 

Land  and 

its 
Transfer. 


The  high 

est  Inter 
I     «8t  in 
I      land. 


I 


58.  A  Deed  is  an  instrument  in  writin". 
sealed  and  delivered,  for  the  transfer  of  property. 
Delivery  is  essential ;  if  not  delivered,  no  interest 
passes.  It  may  sometimes  be  left  with  a  third 
party,  to  be  delivered  upon  certain  conditions ;  a 
deed  is  then  said  to  be  left  in  escrow.  I 

The  parties  to  a  deed  must  be  competent  to! 
contract ;   thus,  the  grantor  should  not  be  an  in- 
fant, nor  the  grantee  an  alien. 

59.  Land  is  the  most  stable  kind  of  property, 
and  transfers  of  land  are  made  with  great  care 
and  formialitv. 

The  most  absolute  interest  in  land  is  the  fee 
simple  ;  fee  simple  is  the  absolute  ownership  in^ 
land,  subject  only  to  the  liability  of  escheat  to  tliei 


rite. 


Escheat, 


Land  shall  escheat,  or  revert,  to  the  State  wh  m  i 


J  08 


FORMS  AND  EXPLANATIONS. 


I  >-^ 


confirmed,  and,  by  these  presents  do  grant,  bar- 
gain, sell,  alien,  remise,  release,  convey,  and  con- 
firm unto  the  said  party  of  the  second  part,  and 
to  his  heirs  and  assigns  forever,  ^U  that  certain 
lot,  piece  or  parcel  of  land,  situate,  lying,  and  be- 
i  ing  in  the  Fourteenth  Ward  of  the  City  of  New- 
;  York,  on  the  Easterly  side  of  Elizabeth  street, 
distant  one  hundred  and  ten  feet  Northerly  from 
Walker  street,  and  bounded  and  described  "^as  fol- 
lows :  Westerly  in  front  by  Elizabeth  street  ; 
Southerly  by  land  of  John  Jones  and  Samuel  Wa- 
ters ;  Easterly  by  land  now  or  late  of  James  Ben- 
son, and  Northerly  by  land  of  Benjamin  Watkins  ; 
being  twenty-five  feet  in  front  and  rear,  and  one 
hundred  feet  long  on  each  side,  ®ogct!]cr  with 
all  and  singular,  the  tenements,  hereditaments 
and  appurtenances  thereunto  belonging,  or  in 
any  wise  appertaining,  and  the  reversion  and  re- 
I  versions,  remainder  and  remainders,  rents,  issues, 
and  profits  thereof.  And  also  all  the  estate,  right, 
title,  interest,  dower,  and  right  of  dower  property, 


Descrip- 
tion of 
Property 


there  are  no  heirs  living  of  the  person  last  seized, 
unless  the  same  has  been  disposed  of  by  Will ; 
such  a  disposition  is  called  devise. 

Heirs  are  persons  to  whom  the  statute  directs 
that  property  in  land  shall  descend.  They  are,  1. 
Lineal  descendants ;  2.  Father ;  3.  Mother ;  4. 
The  Collateral  relatives. 

Lineal  descendants  of  a  person  are  those  who 
descned  directly  from  the  person  named.  CoL 
lateral  relatives  are  those  who  have  descended 
from  the  same  person  or  persons  with  the  person 
named. 

60.  Land  owned  in  fee  simple  may  be  conveyed, 
and  a  title  given,  as  perfect  as  it  is  possible  in^^law 
to  pass  by  one  instrument,  by  a  deed,  called  a 
lull  covenant.  Warranty  Deed  like  the  one 
above. 


109 


Location 
of  Prop- 
erty. 


I 


Heir*. 


Warran* 
:y  Deed. 


'i 


'if 


E*  <• 


I 


I  / 


FORMS  ANr  EXPLANAllONS. 


1 


k       full 
surren- 
der. 


JFulipos- 
j   esasion. 


Cove- 
nant of 
seizin. 


Cove- 
nant    of 
right    to 
convey. 


possession,  claim,  and  demand  whatsoever,  as! 
well  in  law  as  in  equity,  of  the  said  parties  of  the  j 
first  part,  of,  in  and  to  the  same,  and  every  part 
and  [larcel  thereof,  with  the  appurtenances  :  QLo 
l)avc  aixb  to  l)olb  the  above  granted,  bargained, 
and  described  premises,  v/ith  the  appurtenances, 
unto  the  said  party  of  the  second  part,  his  heirs 
and  assigns,  to  his  and  their  own  proper  use,  ben- 
efit, and  behoof  forever.  And  the  said  John 
iSmith,  for  himself,  his  heirs,  executors,  and  ad- 
ministrators, doth  covenant,  grant,  and  agree  to 
and  with  the  said  party  of  the  second  part,  his 
heirs  and  assigns,  that  the  said  John  Smith,  at 
the  time  of  the  sealing  and  delivery  of  these  pre- 
sents, is  lawfully  seized,  in  his  own  right,  of  a  good, 
absolute  and  indefeasible  estate  of  inheritance,  in 
fee  simple,  of,  and  in,  all  and  singular  the  above 
granted  and  described  premises,  with  the  appur- 
tenances thereunto  belonging,  and  hath  good  right, 
full  power,  and  lawful  authority  to  grant,  bar- 
gain, sell,  and  convey  the  same  in  manner  afore- 


Indent- 
ure. 


S 


Cocsiue- 
ntion. 


Grant, 

bargain, 

etc. 


61.  The  word  indenture,  in  the  above  deed,  is 
taken  from  the  ancient  custom  of  cuttins:  the  in- 
<trument  in  such  a  manner  that  a  correspondino- 
part  would  exactly  fit  the  part  indented,  but,  in 
present  usage,  it  means  nothing  more  th  m  written 
instrument. 

Every  valid  iced  requires  some  consideration 
for  its  execution  :  it  may  be  affection,  friendship, 
or  a  small  sum,  yet  it  requires  something  :  it  is 
usual,  therefore,  when  there  is  no  other  money 
consideration,  to  insert  the  sum  of  one  dollar, 
which  is  definite  and  suflicient.  The  deed  itself 
is  a  full  receipt  for  the  consideration  which  it  ex- 
presses. 

62.  "  Granted,  bargained,"  etc.     These  words 
imply  alienation,  and  they  are  used  to  render  the 


FORMS  ANT)  EXPLANATIONS. 


said :  and,  that  the  said  party  of  the  second  part, 
his  heirs  and  assigns,  shall  and  may,  at  all  times 
hereafter,  peaceably  and  quietly  have,  hold,  use, 
,  occupy,  possess,  and  enjoy  the  above  granted  pre- 
imises,  and  every  part  and  parcel  thereof,  with  the 
!  appurtenances,  without    any    let,    suit,   trouble, 
i  molestation,  eviction,  or  disturbance,  of  the  said 
party  of  the  first  part,  his  heirs  or  assigns,  or  of 
any  other  person  or  persons  lawfully  claiming  or 
to  claim  the  same.     And,  that  the  same  now  are 
free,  clear,  discharged,  and  unencumbered  of,  and 
from,  all  former  and  other  grants,  titles,  charges, 
estates,  judgments,  taxes,  assessments,  and  en- 
cumbrances,^ of  what  nature  or  kind  soever ;  And 
also,  that  the  said  party  of  the  first  part,  his  heirs, 
and  all  and  every  person  or  persons  whatsoever, 
lawfully  or  equitably  deriving  any  estate,  right, 
title,  or   interest,  oi,  in,  or  to   the  herein  before 
granted  premises,  by,  from.,  under,  or  in  trust  for 
him  or  them,  shall,  or  will,  at  any  time  or  times 
hereafter,  upon   the  reasonable  request,   and,   at 


Cove- 
nant of 
quiet  en- 
joyment. 


Cove- 
nant    of 
olaar    ti- 
tle. 


Cove- 
nant   of 
confir- 
mation 
of    title. 


instrument  as  perfect  and  absolute  as  it  can  pos- 
sibly be  made. 

''  Tenements,  hereditaments,  and  appurte- 
nances," are  the  buildings,  fences,  fixtures,  privi- 
leges, etc. 

'' Reversion  and  reversions"  refers  to  the  m- 
terest  in  land,  after  a  previous  interest  has  been 
determined,  as  the  right  to  the  land  after  a  lease 

of  it  has  expired. 

'^Remainder  and  remainders."  This  refers  to 
the  interest  which  remains  after  another  interest 
granted  at  the  same  time  has  ceased  ;  as  the  use 
for  life  to  a  person,  or  for  a  term  of  years,  pre- 
viously granted  to  another  person,  when  the  term 
of  the*  latter  shall  expire ;  it  denotes  the  complete- 
ness of  the  grant. 

^' Rents,  issues,  and  Profits.''     This  refers  to 


Tene- 
ment", 
^'.o-aita' 
menta, 
&c. 


Rever- 
sion and 
rever- 
sion*. 


Remaiiii 
der    aiid 
remain- 
ders. 


Rcntfj 


110 


i 


FORMS  AND  EXPL/NATTOXS. 


the  proper  coats  and  charges  in  the  law,  of  the 
said  party  of  the  second  part,  his  heirs  and  as- 
signs, make,  do,  and  execute,  or  cause  to  be  made, 
dune,  and  executed,  all,  and  every,  such  further 
and  other  lawful  and  reasonable  acts,  convey, 
ances,  and  assurances  in  the  law,  for  the  better 
and  more  effectually  vesting  and  confirming  the 
premises  hereby  granted,  or  so  intended  tob^'e,  in,' 
and  to  the  said  party  of  the  second  part,  his  heirs 
and  assigns  for  ever,  as  by  the  said  party  of 
the  second  part,  his  heirs  or  assigns,  or  his  or 
their  counsel,  learned  in  the  law,  shall  be  reason- 
ably advised   or   required:    And  the    said    John 

nant  of  ^™^^'  ^^^  ^^^^^'  ^^^  above  described,  and  hereby 
War-°  granted  and  released  premises,  and  every  part 
'^'T-  and  parcel  thereof,  with  the  appurtenances,  unto 
the  said  party  of  the  second  part,  his  heirs  and 
assigns,  against  the  said  party  of  the  first  part, 
and  his  heirs,  and  against  all  and  every  person 
and  persons  whomsoever,  lawfully  claiming  or  to 


Cove- 


Dower 
and  right 
ofdnwer. 


ClAim 
and    (de- 
mand. 


rents  from  the  tenant,  the  growth  of  trees,  tim- 
ber, produce,  etc. 

63.  "Dower,  and  right  of  dower."  Upon  mar- 
riage, the  wife  becomes  entitled  to  a  certain  in- 
terest  in  the  estate  of  her  husband ;  this  interest 
IS  the  right  to  the  use  or  enjoyment  of  one-third 
during  her  natural  life  :  the  same  right  attaches 
to  every  parcel  of  land  or  estate  of  inheritance 
gainea  by  the  husband  during  marriage  :  this  riaht 
13  called  the  right  of  dower,  and  whether  the  same  ' 
snail  accrue  during  the  life  of  the  husband,  or  at! 
his  death.  It  may  be  surrendered  by  a  release 
under  her  seal:  her  seal  and  signature  in  a  deed, 
like  the  above,  surrenders  her  dower  in  the  prop. 
erty  granted.  .'^ 

64.    "Claim  and   demand."      This  refers  to 


any  thing  which  might  affect  the  land  granted  on 


112 


II 


FORMS  AND  EXPLA^ATIONS. 


claim  the  same,  shall  and  will  toarrant,  and  by 
these  presents  for  ever  bcfeub. 

Jn  loitness  toliercof,  the  parties  to  these  pre- 
sents have  hereunto  interchangeably  set  their 
hands  and  seals  the  day  and  year  first  above 
written. 


AkHi 


JOHN  SMITH.  5 


MARY  SMITH.  ^1 


rriv 


i  Sealed  and  delivered  in  the 
presence  of 

Richard  Low. 


Sipia 


Witn^i* 


the  part  of  the  grantor,  or  which  might  seem  to 
exist  to  the  insecurity  of  the  title  of  the  graniee. 

65.'  "  His  heirs  and  assigns."  This  clause  pro- 
vides for  the  death  of  the  grantee,  in  which  case, 
the  land  would  belong  to  his  heirs,  who  would 
become  entitled  to  all  his  rights,  and  also  for  the 
sale,  by  the  grantee,  to  a  new  purchaser,  who 
would  be  in  the  same  position  as  the  grantee,  and 
would  be  an  assign. 

66.  "In  law  as  in  equity."  This  refers  to  a 
distinction  made  in  legal  proceedings  between  law 
and  equity:  Courts  are,  in  most  of  the  states,  di- 
vided into  courts  of  law,  and  courts  of  equity, 
and  cl*ims  are  carried  to  one  or  the  other  of  these 
cotiTl-    according  to  the   nature  of  the  proseou- 


Heirs 
and    as-  j 

gigns. 


1 
Law  ani ! 

equity,   j 


f^irw. 


113 


I 


'■f..  I 


FORMS  AND  EXrL7\NATlONS. 


Acknow- 
ledg- 
ment. 


Index  to 
the  re- 
cord. 


City  and  County  of  New- York,  5.9.  ; 

On  the  twenty-fourth  day  of  March,  one  thou- 
sand  eight  hundred  and  fifty-one,  before  me  came 
John  Smith,  and  Mary  his  wife,  whom  I  know  to 
be  the  persons  described  in,  and  who  executed  the 
within  deed,  and  who  severally  acknowledged 
that  they  executed  the  same  :  the  said  Mary  be- 
ing by  me  examined  separate  and  apart  from  her 
husband,  acknowledged  that  she  executed  the 
same  freely,  and  without  any  fear  or  compulsion 
from  him. 

JONATHAN  GILES, 
Commissioner  of  Deeds. 
Recorded  in  the  Register's  Office 
of  the  City  and  County  of  New- 
York,  in  Liber  10,  of  Convey- 
ances, page  407,  at  40  mi- 
nutes past  12  O'clock,  March 
24th,  1851. 


j  All     and 
!  singiilar. 


Judg- 
ments, 
taxes  Kz 


Eiser.' 

tiak. 


Record 
of  Deeds 


''AH  and  singular."  A  phrase  which  means 
each  and  every  part. 

''Judgments,  taxes,  and  assessments."  These 
constitute  a  Xv^w  nj^on  property  in  land,  and  un- 
less the  o-rantor  covenants  to  pay  them,  the 
grantee  will  be  holden  for  such  "judgments,"  etc. 
as  may  exist  at  the  time  of  his  purchase. 

67.  It  is  essential  that  the  deed  be  giv^n  with 
the  signatures  and  seals  of  the  party,  in  the  pre- 1 
sence  of  a  witness.  The  party  must  make  an 
acknowledo-ment  of  the  deed  before  it  can  be  re- 
corded.  Deeds  are  recorded  in  ihe  office  of  the 
Clerk  of  the  county,  or  of  the  Register  appointed 
for  that  ])nrpose  ;  and  when  recorded,  a  minute  of 
the  same  is  made  upon  the  deed,  that  the  record 
may  be  readily  found.  This  record  preserves  the 
right  and   title  when   the  original  cannot  be  pro- 


114 


: 1 


FORMS  AND  EXPLANATIONS. 


Agreement  for  tlie  Sale  and  Fur 

ohase  of  Ijand. 


•fcj' 


menkS. 


Partly*. 


ailjis  Qlgrccmcnt,  made  and  executed  the  se- 
cond  day  of  April,  one  thousand  eight  hundred 
and  fifty-one,  between  William  Jones,  merchant, 
of  White  Plains,  Westchester  County,  of  the  first 
part,  and  Samuel  Wise,  of  the  City  of  New-York, 
milkman,  of  the  second  part: 

toitncssctl],  that  the  said  party  of  the  first 
part,  for,  and  in  consideration  of  the  sum  of  two 
thousand  dollars,  (to  him  promised  to  be  paid,)  of  co...ide 
which  the  sum  of  two  hundred  dollars  is  now  paid, 
the  receipt  of  which  is  hereby  acknowledged,  and 
the  remaining  eighteen  hundred  dollars  is  hereby 
agreed  to  be  paid  at  the  time  the  deed  hereinafter 
ni'entioned  is  given,  hath  contracted  and  agreed 
to  sell  to  the  said  party  of  the  second  part,  all 
that  certain  piece  or  parcel  of  land  situate  in  the 
town  of  White  Plains,  County  of  Westchester,  and 
State   of  New- York,    aforesaid,    known    and   de- 


Situa- 
lion      ot 
property 


duced.     It  is  often  essential  that  the  date,  hour, 
and  minute,  that  the  record  is  made  be  noted. 
The  grantor  cannot  subsequently  deed  the   same 
property  to  another  person,  if  a  record  has  been 
made  in  the  manner  required,  for  the  record  itself 
would  show  that  the  original  grantor  had  surren- 
dered his  right  and  title  to  the  same,  and  serve 
as  a  notice  to  all  to  whom  he  might  offer  to  sell. 
68.  An  examination  of  the  records,  before  land 
is  purchased,  or  a  deed  received,  is  not  only  pru- 
dent,  but  absolutely  essential.     There  may  exist 
some  claim  or  mortgage  upon  the  land  of  which 
'the  grantor  is  entirely  ignorant,  hence  the  records 
alone  can  be  relied    upon.     If  no  conveyance  of 
property  is  there  found  to  exist,  and  the  purcha- 
ser is  not  otherwise  informed  of  any  conveyanc« 
since  the  grantor  received  it.  he  is  called  riae  pur- 


Power  of 

the 
grantor. 


c 


FORP.iS  AND  EXPLANATIONS. 


V 


CHmdi- 
tion. 


ft 


scribed  on  the  map  made  by  James  Munro,  Sur- 
veyor, and  filed  in  the  Clerk's  Office  of  the  said 
oounty  June  5th,  1849,  [by  the  nmnber  (47)  forty- 
seven.]  and  bounded  and  described  as  follows  : 

(Here  give  the  description.) 
And  the  said  party  of  the  first  part  agrees  to  exe- 
cute and  deliver  to  the  said  party  of  the  second 
pari,  a  Warranty  Deed,  with  full  covenants,  for 
the  said  described  land  :  JjJrDDibcb,  and  upon  con- 
dition, nevertheless,  that  the  said  party  of  the  se- 
cond part,  his  heirs  and  assigns,  pay  to  the  said 
party  of  the  first  part,  his  heirs  or  assigns,  for  the 
same  land,  the  sum  of  two  thousand  dollars,  law- 
ful money  of  the  United  States,  in  manner  afore- 
said :  ^nb  the  said  party  of  the  second  part,  for 
himself,  his  heirs,  executors,  and  administrators, 
doth  covenant  and  agree,  to,  and  with,  the  party  of 
the  first  part,  his  heirs  and  assigns,  that  the  said 
»»nt  to  party  of  the  second  part  will  pay  the  said  several 
P*^-  sums  as  they  severally  become  due,  without  any 
deduction  for  any  taxes  or  assessments  whatever  : 


aant. 


Core- 


Good 
faith. 


Quit 
d«ed. 


Truit 
ddccL 


m-- 


Eiecu- 
toi  'a  deed 


chaser  in  g-oad faith,  and  holds  the  property  though 
other  deeds  have  been  given,  and  not  recorded. 

69.  We  have  already  given  the  form  of  a  War- 
ranty  Deed,  and  observed  that  the  grantor  cove- 
nants to  make  good  any  and  every  defect  which 
may  be  found  to  exist  in  the  title. 

A  Quit  Claim  Deed  is  an  instrument  by  which 
the  grantor  conveys  his  right  and  title  (if  he  has 
any)  to  the  land  under  consideration. 

4  Trust  Deed  is  given  when  the  grantee  re- 
ceives the  estate  for  some  benefit,  or  security 
therein  mentioned,  to  accrue  to  some  person  or 
persons  specified  other  than  the  grantee. 

The  Exf'cntor's  Deed.  This^  is  given  by  the 
executors  of  an  estate  who,  by  virtue  of  their  of- 
fice, have  full  power  and  authority  to  make  and 
execute  a  deed  for  the  same. 


-»— ^ 


FORMS  AND  EXPLANATIONS. 


^nb  it  is  farther  agreed  between  the  parties  to 
these  presents,  that,  if  default  be  made  in  fulfill- 
ing this  agreement,  or  any  part  thereof,  on  the 
part  of  the  said  party  of  the  second  part,  then, 
and  in  such  case,  the  said  party  of  the  first  part, 
his  heirs  and  assigns,  shall  be  at  liberty  to  con- 
sider  this  contract  annulled,  and  the  money  al- 
ready paid  as  forfeited,  and  to  dispose  of  the  said 
land  to  any  other  person  in  the  same  manner,  as 
if  this  contract  had  never  been  made. 

Sn  tDitness  tDl)ereof,  w^e  have  set  our  hands 
and  seals  the  day  and  year  first  above  written. 


WILLIAM  JONES. 2 


Agrw- 
meut. 


SAMUEL  WISE. 

Sealed  and  delivered  in  the  presence 
of  Henry  Story. 


and 


70.  Let  the  Student  now  be  required  to  give 
the  analysis  of  the  Warranty  Deed,  including  ex- 
planations, definitions,  &c.,  and  also  define  the 
dilTerent  kinds  of  deeds. 

71.  Agreements  or  contracts.  Since  written 
instruments  are  considered  better  evidence  than 
verbal  testimony,  it  is  always  advisable  to  make 
agreements  in  writing,  signed  and  sealed  by  the 
parties.  Let  the  Student  give  the  analysis  of  the 
above  agreement. 

72.  The  agreement  always  precedes  the  con- 
veyance or  delivery,  and  in  the  purchase  of  Real 
Estate  it  affords  an  opportunity  to  examine  the 
record  (Art.  68).  A  duplicate  of  the  agreement 
is  u<sually  made,  in  order  that  both  parties  may 
have  the  articles  of  the  contract. 


117 


£x«roiM 


Agree- 
ments in 
writinf. 


1  • 


FORMS  AND   EXPLANATIONS. 


1 


Par  lias. 


Conside- 
fatjoii. 


Intent 

and 
I  meaning 


Le«««. 


T«nu:t. 


X;ea.se  of  Land. 

£1)15  3nbcntiirc,  made  the  third  day  of  April, 
one    thousand   eight   hundred    and   fifty-one,    boJ 
tween    Theodore    Webb,  of  the    City    of  Albany, 
Banker,  of  the  first  part,  and   Wesley  Jansen,  of 
the   same   city,    Merchant,    of  the   second   part  • 
il3imc55Ct!),  that  the  said  party  of  the  first  part, 
for,  and  in  consideration  of,  the  rents,  covenants, 
and  agreements,  hereinafter  mentioned,  reserved, 
and  retained,  on   the  part  and  behalf  of  the  said 
party  of  the  second  part,  his  executors,  adminis- 
trators, and   assigns,  to   be  made,   kept,  and   per- 
formed,  hath  granted,  demised,  and  to  farm   let- 
ten,  and   by  these   presents   doth   grant,  demise, 
and  to  farm  let,  imto  the  said  party  of  the  second 
part,  his   executors,  administrators,   and  assigns, 
!^11,  &c.,  (here  description  of  property,)  QTo  Ijane 
a\ib  t0  l]alb   the   said   above   mentioned   and   de- 
scribed  premises,   with   the  appurtenances,  unto 
the  said  party  of  the  second  part,  his  executors, 


The  several  phrases    ''his  heirs,    executors," 
etc.,  convey  the  same  meaning  as  in  the  deed. 

The  several  parts  of  the  contract  should  be 
stated  with  minuteness,  and  if  any  erasure,  inter- 
lineation or  addition  be  made,  it  should  be  speci- 
fied  that  the  same  was  done  before  the  parties 
signed  it.  It  may  often  be  difficult  to  draw  up 
an  agreement  with  sufficient  precision,  yet  v/e  can 
judge  very  correctly  of  the  true  intent  and  ixiean- 
mg  by  the  general  tenor  of  the  instrument  given. 

7o.  Lease,  This  is  a  contract  for  the  tempo- 
rary  possession  of  houses,  or  lands  with  houses! 
thereon;  and,  with  respect  to  their  sale,  it  is  con- 
sidered as  an  incumbrance  upon  the  property, 
since  a  conveyance  can  be  eflected  only  subject 
to  the  lease. 

A  Tenant  is  one  who  hohls  lands  or  tenements 


FORMS  AND  EXPLANATIONS. 


administrators,  and  assigns,  from  the  first  day  of 
I  May,  one  thousand  eight  hmidred  and  fifty-one, 
for,  and  during,  and  until  the  full  end  and  term  Term, 
of  five  years,  thence  next  ensuing,  and,  fully  to 
be  complete  and  ended,  yielding  and  paying  there- 
for unto  the  said  party  of  the  first  part,  his  heirs 
or  assigns,  yearly,  and  every  year,  duruig  the 
.said  term  hereby  granted,  the  yearly  rent  or 
sum  of  two  hundred  and  fifty  dollars,  lawful  mo- 
ney of  the  United  States  of  America,  in  equal  half 
yearly  payments,  to  wit,  upon  the  first  day  of  No- 
vember, and  upon  the  first  day  of  May,  in  each, 
and  everv,  of  the  said  years;  Prot}ibcb  altoailS, 
\\tyytxl^c\t^%  That  if  the  yearly  rent  above  re- 
served,  or  any  part  thereof,  shall  be  behind  or  un- 
paid  on  anv  day  of  payment  whereon  the  same 
ought  to  be^'paid  as  aforesaid ;  or,  if  default  shall 
be  made  in  any  of  the  covenants  herein  contamed, 
on  the  part  and  behalf  of  the  said  party  of  the 
second  part,  his  executors,  administrators,  and 
assigns,  to  be  paid,  kept,  and  performed,  then  and 


belonging  to  another,  or,  is  the  person  to  whom 
the  property  is  leased.  - 

An  Under  Tenant  is  a  person  to  whom  ^  le- 
nant  leases  property,  and  a  contract  for  the  same 
is  called  an  Under  Lease. 

Numbers  and  dates  should  be  written  out  m 
full  in  all  the  instruments,  the  forms  of  which  are 

here  given. 

74.  The  transfer  of  land  by  deed  has  already 
been  considered  (Art.  72) ;  there  is  another  by  icill 
or  devise,  the  form  of  which  is  given  (p.  149).  By 
the  classification  adopted,  we  first  treat  of  Land 
and  its  Transfer,  second,  of  Personal  Property,  and 
lastly,  of  subjects  of  a  more  general  character. 

75.  It  is  often  important  to  know  who  are  the 
persons  to  whom  land  shall  descend  when  not  dis- 
posed of  during  the  lifetime  of  the  owner  (Art.  o9). 


Condi- 
tion. 


Jndar 


vvm. 


Chsaiil- 


Uuk*  of 


FORMS  AND  EXPLANATIONS. 


I 


I 


c-ove- 
nant     t  o 
pay  rsnt. 


from  thenceforth  it  shall  and   may  be  lawful  for 
the  said  party  of  the  first  part,  [his  heirs  or  as- 
signs,] into  and  upon  the  said  demised  premises, 
and  every  part  thereof,  wholly  to  re-enter  and  re- 
move  all  persons  therefrom,  and  the  same  to  have 
again,  repossess,  and  enjoy,  as  in  his  or  their  tirst 
and    former  estate,   any  thing  hereinbefore  con- 
tained  to   the  contrary  thereof,  in  any  wise  not- 
withstanding :   anb,  the  said  party  of  the  second 
part,  for  himself,  his  heirs,  executors,  and  admi- 
nistrators,  doth  promise,  covenant,  and   agree,  to 
and  with  the  said  party  of  the  first  part,  his  ex- 
ecutors, administrators,  or  assigns,  that  the  said 
party  of  the  second  part,  his  executors,  adminis- 
trators, or  assigns,  shall  and  will  yearly,  and  every 
year,  during  the  said  term  hereby  granted,  well  and 
truly  pay,  or  cause  to  be  paid,  unto  the  said  party 
of  the  first  part,  his  heirs  or  assigns,  the  said  yearly 
rent  above  reserved,  on  the  days,  and  in  the  man- 
ner, limited  and  prescribed  as  aforesaid,  for  the  pay- 
ment  thereof,  without  any  deduction,  fraud,  or  de- 


Repre- 
senta- 
tion. 


f 


Xuk    of 

calcula- 
tioa. 


,    ! 


The  following  rules  of  descent  prevail  in  most  of 
the  states : 

1.  To  the  lawful  issue  of  the  person  last 
seized,  standing  in  equal  degrees  in  equal  parts, 
thus,  the  owner's  children  would  share  equally. 

2.  If  <^.:i.herof  the  lawful  issue  has  deceased, 
then  thf  .awful  children  of  such  lawful  issue, 
being  the  only  representatives  of  the  parent,  shall, 
together,  be  entitled  to  the  amount  which  would 
otherwise  be  inherited  by  the  parent.  I 

3.  To  the  nearest  collateral  relatives  (Art.  59).  | 
76.   The  rule  for  calculating  the  distance  ofj 

relationship,  is  to  couuu  the  degrees  from  the  per- 
son proposed  back  to  the  common  ancestor;  and! 
the  distance  of  relationship  between  any  two  of  i 
the  descendants  is  equal  to  the  number  of  the  deJ 


grees  from  one  of  them  back  to  the  common  an- 


!      i 


120 


J 


FORMS  AND  EXPLANATIONS 


lay,  according  to  the  true  intent  and  meaning  of 
these  presents,  and,  that  the  said  party  of  the  se- 
cond part,  his  executors,  administrators,  or  assigns, 
shall,  and  will,  at  their  own  proper  costs  and 
charges,  bear,  pay,  and  discharge,  all  such  taxes, 
duties,  and  assessments,  whatsoever  as  shall,  or 
may,  during  the  said  term  hereby  granted,  be 
charged,  assessed,  or  imposed,  upon  the  said  de- 
mised premises  :  ^nb  that  on  the  last  day  of  the 
said  term,  or  other  sooner  determination  of  the 
estate  hereby  granted,  the  said  party  of  the  se- 
cond part,  his  executors,  administrators,  or  as- 
signs, shall,  and  will,  peaceably  and  quietly, 
leave,  surrender,  and  yield  up  unto  the  said  party 
of  the  first  part,  his  heirs  or  assigns,  all  and  sin- 
gular the  said  demised  premises. 

2lnb  the  said  party  of  the  first  part,  for  him- 
self,  his  heirs,  executors,  and  administrators,  doth 
covenant  and  agree,  to  and  with  the  said  party  of 
the  second  part,  his  executors,  administrators,  and 
assigns,  by  these  presents,  that  the  said  part}  of 


Taxes, 
assess- 
ment!. 


Cove- 
nant    to 

surren- 
der at  the 
close     of 
the  terna. 


Cove- 
nant    tc 
suffer 
quiet 

pi)>ses- 
sion. 


Citizens. 


cestor,  added  to  those  from  the  common  ancestor 
down  to  the  other  ;  thus  the  distance  of  relation- 
ship betwen  a  person  and  his  cousin's  son  is  five 
degrees.     Each  generation  is  a  degree. 

77.  We  shall  now  consider  who  is  entitled  to 
hold  property  in  land.  Citizens  of  the  United 
States  can  take  land  by  devise,  descent,  or  pur- 
chase. Citizens  are  persons  born  in  the  United 
States  ;  and  foreigners  may  become  citizens  by  a 
compliance  with  the  laws  of  naturalization. 

Naturalization  is  the  conferment  of  citizenship 
upon  aliens,  or  persons  among  us  who  have  im- 
migrated from  foreign  countries  ;  this  conferment 
entitles  foreigners  to  nearly  all  of  the  privileges 
of  natural  born  Americans:  the  President  of  the 
United  States,  how^ever,  must  be  an  American 
by  birth,  and  seven  years'  residence  is  necessary 


Natura-U 
izatioi.. 


Privi- 
leges. 


/ 


L_ 


Natural- 
ization 
laws. 


FORMS  AND  EXPLANATIONS. 


the  second  part,  his  executors,  adminislratorSj  or 
assigns,  paying  the  said  yearly  rent  above  re- 
served, and  performing  the  covenants  and  agree- 
ments aforesaid,  on  his  and  their  part,  the  said 
party  of  the  second  })art,  his  executors,  adminis- 
trators, and  assigns,  shall,  and  may,  at  all  times 
during  the  said  term  hereby  granted,  peaceably 
and  quietly  have,  hoi  I,  and  enjoy  the  said  de- 
mised premises,  without  any  manner  of  let,  suit, 
trouble,  or  hindrance,  of,  or  from,  the  said  party 
of  the  first  part,  his  heirs  or  assigns,  or  any  other 
person  or  persons  \Yhatsoever. 

3n  tX)itnc55  toljcrcof,  the  said  parties  to  these 
presents  have  hereunto  set  their  hands  and  seals 
the  day  and  year  first  above  writtc^n.         ^\^Ail4. 

THEODORE  AYEBB.^i 


AYESLEY  JANSEN.    ^ 


In  the  presence  of 

Benson  B.  Hovt. 


^i<i^ 


to    entitle   a  naturalized   alien  t«)  a  seat  in  Con 
gress. 

78,  The  /airs  of  Naturalizafion  are  made  and 
res:ulated  bv  Conm-ess  The  loUovvMnii:  is  a  sy- 
nopsis : 

It  is  required  tliat  the  applicant  declare  his 
intention  to  becMme  a  citizen,  on  oath,  before  a 
state  Court  of  llecord,  with  a  Seal  anil  Cleric,  and 
having  common  law  jurisdiction,  or  before  a  Cir- 
cuit or  District  Court  of  the  United  States,  or 
before  a  Clerk  of  either  of  the  said  Courts,  two 
years  at  least  before  his  admission,  and  to  re- 
nounce his  allegiance  to  liis  own  sovereign. 

This  declaration  need  not  be  previouslv  made 
if  the  alien  resided  here  before  the  ei52:hteenrh  dav 
of  June,  1812,  and  has  since  continued  to  reside 
here,  provided   such  residence   be    pr(»ved  to  the 


He  must 

dwiare 

h-'  1.1  ten- 

tmn. 


Frori- 
■icn. 


^    I 


FOUMS  A^\)  EyPLANATIONS. 


Mortgage  of  Land. 

@;i)is  3nbcnturc,  made  the  tenth  day  of  April, 
one   thousand   eight    hundred    and    fifty-one,   be- 
tween John   Selclen,  of  Binghampton,  County  of 
Broome,  Merchant,  and  Margaret,  his  wife,  of  the 
first  part,  and  Joshua  Hunter,  of  the  same  place, 
of  the  second  part:   il3l]Crcas,  the  said  John   Sel- 
den  is  justly  indebted  to  the  said  party  of  the  se- 
cond  part  in   the   sum  of  five   thousand   dollars, 
lawful  money  of  the  United  States,  secured  to  be 
paid    bv  his  ^certain   bond   or   obligation,  bearing 
even  date  with  these  presents,  in  the  penal  sum 
of  ten   thousand   dollars,  lawful    money  as  afore- 
said, conditioned  for  the  payment  of  the  first  men- 
tioned  sum  of  five  thousand  dollars,  as  by  the  said 
bond  or  obligation,  and  the  condition  thereof,  re- 
ference  being  thereunto  had,  may  more  fully  ap- 
pear, Nou)  ti]is  3nbentttre  tDitncssetl],  that  the  said 
parties  of  the  first  part,  for  \he  better   securing 
the  payment  of  the  said  sum  of  money  mentioned 


par  tie*. 


P/e  am- 
ble. 


Conside- 
ration. 


I? 


1?2 


satisfaction  of  the  Court,  and,  provided  it  be  proved 
by  the  oath  or  affirmation  of  two  citizens  of  the 
United  States,  that  the  applicant  has  resided  for 
at  least  five  years  immediately  preceding  the 
time  of  such  application  within  the  limits  and 
under  the  jurisdiction  of  the  United  States. 

If  the  applicant  is  a  minor,  and  shall  have 
resided  in  the  United  States  three  years  next 
preceding  his  arrival  to  majority,  he  may  also  be 
admitted  as  a  citizen  without  such  previous  dec- 
laration, provided  he  has,  at  the  time  of  such  ap- 
plication, attained  to  the  age  of  twenty-one  years, 
and  has  resided  five  years  within  the  United 
States,  including  the  three  years  of  his  minority, 
and  shall  make  the  declaration  aforesaid  at  the 
i  time  of  his  admission,  and  shall  declare  on  oath,  and 

i  prove  to  the  satisfaction  of  the  court,  that  for  the 

1* , 

12:^ 


Resi- 
dence  ot 
f^vpyear^  ! 
required 


Three 

years 

mmoritj 


His     in- 
tention. 


f 


FORMS  AND  KXPLANATIOXS. 


P 

m 


in  the  condition  of  the  said  bond  or  oblis^ation, 
with  interest  thereon,  accord inij:  to  the  true  in- 
tent  and  meaning  thereof,  and  also  for  and  in 
con:?ideration  of  the  sum  of  one  doUar,  to  me  in 
hand  paid  by  the  said  party  of  the  second  part, 
at  or  before  the  ensealins:  and  deliverv  of  these 
presents,  the  receipt  whereof  is  hereby  acknowl- 
edged,  have  granted,  bargained,  sold,  aliened,  re- 
leased, conveyed,  and  confirmed,  and,  by  these 
presents,  do  grant,  bargain,  sell,  alien,  release, 
convey,  and  confirm,  unto  the  said  party  of  the 
second  part,  and  to  his  heirs  and  assigns  forever, 
Qtll  that  certain  piece,  parcel,  and  farm  of  land, 
situate,  lyins:,  and  beinij:  in  the  town  of  Chenan2"o, 
bychairVa  Couuty  of  Broomc,  and  State  of  New- York, 
bounded  and  described  as  follows  :  Besfinninir  at 
a  point  formed  by  the  intersection  of  the  two 
roads,  called  the  Binghampton  road  and  the  AVind- 
sor  road,  which  said  point  is  the  Southeast  cor- 
ner, formed  by  said  intersection,  and  running? 
thence  easterly,  ten  chains  and  fifteen  links,  alons: 


Oescrip" 
tion      of 

propp-rty 


Children 
ol   natu- 
ralized 
citizens. 


An  alien 
may  hold 
land      in 
New- 
York 


three  years  next  preceding  it  had  lieen  his  bona  fide 
intention  to  become  a  citizen,  and  shall  in  all  other 
respects  comply  with  the  laws  of  naturalization. 

79.  Children  of  ))er>ons  duly  naturalized, 
who  are  minors  at  the  time,  and  reside  in  the 
United  States,  are  to  be  considered  citizens.  It 
is  further  provided  that  if  any  alien  shall  die  after 
his  declaration  of  intention  to  become  a  citizen, 
and  before  actual  admission,  his  widow  and  chil- 
dren shall  be  deemed  citizens. 

80.  In  New- York  it  is  not  necessary  for  a! 
resident  alien  to  be  absolutely  naturalized  before 
allowed  to  hold  real  property,  if  he  files  a  deposi- 
tion  in  the  office  of  the  Secretary  of  State,  de- 
clarin^:  that  he  is  now  a  resident  of  the  United 
States  and  always  intends  to  be  such,  and  to  be- 

oome  a  citizen  thereof  as  soon  as  he  can  be  natu- 

. J 


FORMS  AND  EXPLANATION s 


the  southerly  line  of  the  said  Windsor  road; 
thence  southerly  and  along  the  westerly  line  of 
land  now,  and  for  many  years,  the  property  of 
Jacob  Green,  sixteen  chains  and  twenty-five 
links;  thence  southwesterly  fifty  links  to  an  oak 
tree  marked  ;  thence,  in  a  northwesterly  direc- 
tion, thirteen  chains,  to  a  stone  pillar  set  in  the 
o-round  on  the  easterly  line  or  side  of  the  said 
Binghampton  road  ;  thence,  along  the  easterly  side 
of  said  road,  to  the  place  of  beginning ;  being  the 
same  premises  conveyed  to  the  said  party  of  the 
first  part  by  a  deed  bearing  date  the  first  day  of 
May,  one  thousand  eight  hundred  and  forty,  and 
recordi^.d  in  the  Clerk's  Office  of  the  County  of 
Broome,  in  Liber  6,  of  Conveyances,  page  55,  and 
containing,  (here  give  the  amount  of  Land.)  So- 
geti)er,  with  all  and  singular,  the  tenements,  he- 
reditaments, and  appurtenances  thereunto  be- 
longing, or  in  any  wise  appertaining,  and  the  re- 
version and  reversions,  remainder  and  remainders, 
rents,  issues,  and  profits  thereof;   ^tlb  also,  all 


ralized,  and  that  he  has  taken  such  incipient 
measures  as  the  laws  require  to  enable  him  to  ob- 
tain his  naturalization  (iVrt.  78). 

Such  alien  may  hold  real  estate  six  years 
thereafter,  when  it  is  presumed  that  his  naturali- 
zation will  be  complete. 

81 .  The  title  to  lands  in  New-York,  shall  not 
be  affected  by  the  question  ^f  citizenship  of  any 
person  through  whom  the  same  has  passed  before 
the  21st  of  April,  1825,  and  in  the  same  state  the 
rule  formerly  supposed  imperative,  viz. :  that  an 
alien  could  neither  take  nor  pass  a  valid  title  to 
real  estate,  has  been  so  modified  as  to  place  it 
within  the  power  of  every  alien  to  secure  his  pro- 
perty, whether  personal  or  real,  to  his  own  pur- 
poses, and  to  the  use  of  his  family,  nor  will  his 
own  neglect,  during  his  lifetime,  prevent  bis  fa- 


length 
of  tims. 


Liberali-  ' 

tyinNew , 

Ycik.    1 


121 


125 


FORMS  AND  EXPLANATIONS. 


'    Condi- 
tion. 


( 


Compli- 
ance in 
all  other 
respects. 


the  estate,  right,  title,  interest,  dower,  and  right 
of  dower,  property?  possession,  claim  and  demand 
whatsoever,  as  well  in  law  as  in  equity,  of  the 
said  parties  of  the  first  part,  of,  in,  and  to  the 
same,  and  every  part  and  parcel  thereof,  with  the 
appurtenances,  (to  ^avc  aiib  to  l)olb  the  above 
granted  and  described  premises,  with  the  appur- 
tenances, unto  the  said  party  of  the  second  part, 
his  heirs  and  assigns,  to  his  and  their  own  proper 
use,  benefit,  and  behoof  forever,  |)rODibeb  altoaps, 
and  these  presents  are  upon  this  express  condi- 
tion, that  if  the  said  party  of  the  first  part,  his 
heirs,  executors,  or  administrators,  shall  well  and 
truly  pay  unto  the  said  party  of  the  second  part, 
his  executors,  administrators,  or  assigns,  the  said 
sum  of  money  mentioned  in  the  condition  of  the 
said  bond  or  oblig:ation,  and  the  interest  thereon, 
at  the  time,  and  in  the  manner  mentioned  in  the 
said  condition,  according  to  the  true  intent  and 
meaning  thereof,  that  then  these  presents  and  the 
estate  hereby  granted  shall  cease,  determine,  and 


mily  from  securing  or  taking  measures  which  will 
secure  the  same  result. 

82.  ^'And  shall  in  all  other  respects  comply 
with  the  laws  of  naturalization."  The  law  fur- 
ther provides  that  he  must,  at  the  time  of  his  ad- 
mission, satisfy  the  Court  by  the  oath  or  affirma- 
tion of  at  least  two  citizens  of  the  United  States, 
that  he  has  resided  five  years  at  least  within  the 
United  States,  and  one  year  at  least  within  the 
State  w^here  the  Court  is  held,  and  if  he  shall 
have  arrived  after  the  peace  of  1815,  his  residence 
must  have  been  continued  for  five  years  next  pre- 
cedins:  his  admission,  without  being^  at  any  time, 
durinsf  the  five  years,  out  of  the  territory  of  the 
United  States.  He  must  satisfy  the  Court  that 
durinof  that  time  he  has  behaved  himself  as  a 
man  of  good  moral  character,  attached  to  the 

;  126 


FORMS  AND  EXPLANATIONS. 


I- 


be  void.  And  the  said  John  Selden,  for  himself,  his 
heirs,   executors,  and  administrators,  doth  cove- 
nant  and  agree  to  pay  unto  the  said  party  ot  the 
second  part,  his  executors,  administrators,  or  as- 
sians,  the  said  sum  of  money,  and   interest,  as 
mentioned  above,  and  expressed  in  the  said  con- 
dition of  the  said  bond ;  ^nb  if  default  shall  be 
made  in  the  payment  of  the  said  sum  of  money 
above  mentioned,  or  the  interest  that  may  grow 
due  thereon,  or  of  any  part  thereof,  that  then,  and 
from  thenceforth,  it  shall  be  lawful  tor  the  said 
party  of  the  second  part,  his  executors,  adminis- 
trators, and  assigns,  to  enter  into  and  upon  all  and 
sinc^ular  the  premises  hereby  granted,  or  intended 
so  to  be,  and  to  sell  and  dispose  of  the  same,  and 
all  benefit  and  equity  of  redemption  ot  the  said 
party  of  the  first  part,  his  heirs,  executors,  admi- 
nistrators, or  assigns,  therein,  at  public   auction, 
accordiiK-  to  the  act  in  such  case  made  and  pro- 
vided ;  dnb  as  the  attorney  of  the  said  party  of 
the  first  part,  for  that  purpose  by  these  presents 


COT*- 

nant     to 
pay  prin- 
cipal aind  { 
interest 


In  case  >i 

default. 


principles  of  the  Constitution,  and  well  disposed 
to  the  good  order  and  happiness  of  the  same. 

83"  "  Three  years  minority."  These  may 
have  expired  ten  years  before  the  application  is 
made,  still  they  answer  the  same  purpose,  dis- 
pensing with  the  necessity  of  the  declaration  re- 
quired'from  those  who  came  to  this  country  after 
they  had  attained  to  the  age  of  twenty-one. 

84.  "  Common  law  jurisdiction."  The  Com- 
mon Law  of  this  country  is  derived  from  or  cor- 
responds  with  the  Common  Law  of  England,^and 
it  is  that  svstera  of  practice  which  has  arisen  from 
acknowledged  principles  of  justice,  and  which  has 
been  pursued,  from  the  earliest  history,  in  both 
countries,  without  being  formed  into  a  written 
code  or  enacted  into  a  statute.  The  above  phrase 
is  used  here  to  distinguish  courts  of  more   ex- 


Thrfe 

yftare' 

minority 


Common 
law. 


L 


127 


FC  RMS  AND  EXPLANATIONS. 


1 


FORMS  AND  EXPLANi.TIONS. 


duly  authorized,   constituted,    and   appointed,  toj 
make  and  deliver  to  the  purchaser  or  purchasers! 
thereof,  a  good  and  sufficient  deed,  or  deeds   of 
conveyance,  in  the  law  for  the  same  in  fee  simple, 
and,  out  of  the  money  arising  from  such  sale,  to 
retain  the  principal  and  interest  which  shall  then 
be  due   on  the    said  bond  or  obliofation,  tocrether 
with  the  costs  and  charges  of  advertisement  and 
sale  of  the  same  premises,  rendering  the  overplus 
of  the   purchase    money  (if  any  there  shall  be) 
Or^rpins  uuto  thc  Said  Johu  yelden,  party  of  the  first  part, 
his  heirs,   executors,   administrators,  or  assigns  : 
which  sale  so  to  be  made  shall  forever  be  a  per- 
petual bar,  both  in  law  and  equity,  against  the 
said  party  of  the  first  part,  his  heirs  and  assigns, 
and   all   other  persons   claiming  or  to  claim  the 
premises,  or  any  part  thereof,  by,  from,  or  under 
him,   them,   or  either  of  them, '!3.nb    it    is    also 
agreed,  by  and  between  the  parties  to  these  pre- 
sents, that  the  said  party  of  the  first  part  shall, 
and  will,  keep  the    buildings   erected,  and   to  be 


Aj^ee- 
inent    of 
insu- 
rance. 


ients  be- 
fore 1^12 


;    Indian 


I 


tended,  from  those  which  have  a  strictly  defined 
jurisdiction  beyond  which  they  have  no  power. 
The  Courts  of  Common  Law  are  included  in  the 
former. 

85.  There  may  be  few  alien  residents  now, 
who  vrere  such  prior  to  1812,  still  the  law  is  wor- 
thy of  notice  in  connection  with  the  subject  of 
naturalization.  The  reason  of  the  particular  date 
is  obvious,  since  it  is  an  important  era  in  our  his- 
tory, and  it  is  also  seen  that  the  law  was  designed 
to  favor  those  who  had  voluntarilv  chosen  this 
country  for  their  residence  before  the  war  com- 
menced. 

86.  The  Indians   of   New- York    State   have 
certain  portions  of  land  reserved  to  them,  and  the  I 
manner  of  its  transfer  is  somewhat  restricted  ;  no. 
purchase   or   contract  for  the  sale  of  such   iandj 


erected  upon  the  lands  above  conveyed,  insured 
against  loss  and  damage  by  fire,  and  assign  the 
policy  and  certificates  thereof  to  the  said  party  of 
the  second  part;  and,  in  default  thereof,  it  shall 
be  lawful  for  the  said  ])arty  of  the  second  part^to 
eftect  such  insurance,  and  charge  the  same  to  the 
party  of  the  first  part,  and  the  premium  or  pre- 
miums  paid  for  eileoting  the  same  shall  be  a  iien 
on  the  said  mortgaged  premises,  added  to  the 
amount  of  the  said  "bond  or  obligation,  and  se- 
cured bv  these  prescnits. 

3n  toitueos  whereof,  the  parties  hereto  have 
interchangeably  set  their  hands  and  seals  the  day 
and  year  above  written. 

JOHN  SELDEN. 


Right  o< 


« 


MAEGAUET  SELDEN.  ^^^c 

Sealed  and  delivered  in  the  pre-  }  -WMmj^ 

sence  of       Reed  Hainhlton 


u 


since  the  14th  of  October,  1775,  or  which^rany 
hereafter  be  made  with  the  Indians,  in  this  State, 
is  valid  unless  made  under  the  authority  and  with 
the  consent  of  the  Legislature.  The  Indians  can- 
not dispose  of  such  lands  without  this  consent, 
unless  they  are  the  heirs  of  an  Indian  to  whom 
the  land  was  granted  for  military  services  during 
the  revolution,  in  such  case  they  may  (since 
March  7th,  1809,)  as  well  as  the  patentee  to  whom 
the  land  was  granted  for  such  service  during  his 
.lifetime,  pass  a  valid  title  to  the  land  to  any  citi- 
zen of  the  State,  if  the  conveyance  is  executed 
with  the  approval  of  the  Surveyor  General  en- 
dorsed thereon. 

87.  Any  native  Indian,  who  is  apart  from 
the  tribes  referred  to  above,  may,  since  1843,  pur- 
chase, take,  hold,  and  convey  lands  in  this  State 


Po'^er  to 

conveyiu 
certain    j 
casea. 


Other 

aiul   3c- 
quiiei. 


J 


/ 


FORAIS  ANC  EXPLANATIONS. 


1 


AtcknoT- 


dg- 
meiit. 


ledg- 


I 


Minute 
of record. 


Broome  County,  New-York,  ^'.s*.  ; 

Before  me,  this  ekiveritli  day  of  April^  ono 
thousand  eight  hundred  and  fifty-one,  personally 
appeared  John  Seldcn  and  Margaret  Selden,  to  me 
known  to  be  the  persons  deseribed  in,  am^  who 
executed  the  within  instrument,  and  who  seve- 
rally acknowledged  that  they  executed  the  same  ; 
and  the  said  Margaret,  being  privately  examined 
by  me,  separate  and  apart  from  her  said  husband, 
acknowled£]^ed  that  she  executed  the  same  freely, 
and  without  any  fear  or  compulsion  from  him. 

PETER  HOYT, 

Justice  of  ilic  Peace. 
Recorded  in  the  Clerk's  Olfice 
of  the  County  of  Broom*'^,  in 
Liber  50,  p.  75,  of  Mort- 
gages, 12  April,  1851,  at  20 
minutes  past  3,  P.  M. 

0.  Holmes,  Ileg-isler, 


have  pri 

vilecresof 
citizens. 


1 


f 


in  the  same  manner  as  a  citizen  ;  and  whenever 
he  shall  have  become  a  freehokler  to  the  value  of 
When  to  one  hundred  dollars,  he  shall  be  liable  on  contracts, 
and  subject  to  the  civil  jurisdiction  of  the  courts 
of  this  state  as  a  citizen:  a  freeholder  is  one  vfho 
lawfully  ])ossesses,  or  is  entitled  to  an  interest  in 
real  property,  either  in  fee  or  for  life.  Until  In- 
dians become  thus  qualified,  they  seem  to  form  a 
distinct  community,  subject  to  the  Legislature 
of  the  State. 

88.  Idiots  and  infants  are  virtually  declared 
incapable  of  making  transfers  of  their  interest  in 
land,  and  therefore  cannot  give  a  valid  convey- 
ance thereof.  When  Land  is  owned  jointly  with 
such  individuals,  it  is  sometimes  desirable  to  free 
it  from  their  ownership  and  control,  in  which  case 


laiotS 

%Ad     in- 
faii  ts. 


FORMS  AND  EXPLANATIONS. 


Satisfaction  Piece. 

I,  Joshua  Hunter,  of  Binghampton,  Broome 
30unty,  New- York,  do  hereby  certify  that  a  cer- 
tain  rnortgage,  bearing  date  the  10th  day  of  April, 
one  thousand  eight  hundred  and  fifty,  made  and 
executed  by  John  Selden,  and  Margaret,  his  wife, 
of  the  same  place,  and  recorded  in  the  Office  of 
the  Clerk  of  the  County  of  Broome,  in  Liber  50, 
page  75,  of  Mortgages,  on  the  12th  day  of  April, 
1851,  is  paid.     Dated  1st  May,  1851.        '^^^^- 

JOSHUA  HUNTER. 


T'OTBL 


AiiiL' 


Broome  County,  New-York,  ss.  : 

On  the  first  day  of  May,  1851,  before  me  came 
Joshua  Hunter,  to  me  personally  known  to  be  the  Aoknow. 
individual  described   in,  and  who  executed  the     J^^g; 
above  certificate,  and  acknowledged  that  he  exe- 

!  cuted  the  same. 

CORNELIUS  HAIGHT,  Justice, 


i> 


130 


guardians  are  appointed  to  act  for  them  ;  such  ap- 
pointment must  be  made  by  a  competent  court. 

89.  'Corporations  are  associations  established 
by  the  Legislature  under  a  given  name  and  for  a 
specified  purpose  ;  they  can  neither  give  nor  re- 
ceive valid  conveyances  of  land,  unless  authorized 
by  the  act  which  incorporates  them,  or  by  a  com- 
petent Court. 

90.  When  land  is  sold  for  taxes  in  this  state, 
I  tlie  owner  has  two  years  from  the  sale  to  redeem 

the  same,  but  at  the  expiration  of  that  period,  the 
Comptroller  gives  a  full  title  to  the  purchaser, 
and  there  can  be  no  redemption.  The  sale  of  un- 
occupied lands  for  taxes  is  often  extensive. 

91.  Lands  lying  under   water,  along  rivers 
land  lakes,  are  subject  to  peculiar  laws.     They 

do  not  absolutely  belong  to  the  adjoining  owner, 

"131 


Guardi- 
ans. 


Corpora- 
tions, 
their 
powers 

and  priv- 
ileges. 


Sale    foi  i 
taxes.    ! 


Lands 
under 
water. 


CI 


FORMS  AND  EXi'l.ANATlONS. 


••«MM> 


Pa.rti68. 


Purpose. 


Power  of  Attorney  to  Sell  Lands. 

KnottJ  all  <Mcn  bn  tI)CQc  presents,  that  I,  Wil- 

liam  Ketchum,  of  the  village  of  Po'kcepsee', 
County  of  Dutchess,  and  State  of  New- York, 
Grocer,  have  made,  constituted,  and  appointed, 
and,  by  these  presents,  do  make,  constitute,  and 
ap])oint,  Anson  Homer,  of  the  City  of  New- York, 
my  true  and  lawful  attorney  for  me,  and  in  my 
name,  place,  and  stead,  to  execute  and  deliver  to 
"Willard  Hone,  of  the  same  city,  a  good  and  suffi- 
cient deed  of  the  premises  numbered  nine.  Uni- 
versity Place,  in  said  City,  upon  the  receipt  of 
the  sum  of  two  thousand  dollars,  which  I  hereby 
authorize  said  Homer  to  receive  :  said  premises 
are  bounded  and  described  as  follows  :  (here  de- 
scription if  it  is  desired,)  giving  and  granting 
unto  my  said  attorney  full  power  and  authority 
to  do  and  perform  all  and  every  act  and  thinf^ 
whatsoever,  requisite  and  necessary  to  be  done  in 
and  about  the  premises,  as  fully  to  all  intents  and 


Mort- 
fage. 


for  the  state  has  rights  in  them  which  must  b  ?  i 
surrendered  before  the  adjoining  owner's  title  hi  -1 
comes  absolute.  • 

S2.  A  Mortgage  is  a  conditional  conveyance! 
of  property  to  secure  money  due  or  loaned;  the! 
person  who  mortgages  his  property  is  called  the 
mortgagor  ;  the  person  to  whom  the  mortgage  is 
given  is  called  the  mortgagee.  We  have  given  the 
full  form  of  a  mortgage,  with  a  clause  providing 
for  insurance.  The  similarity  to  a  deed  will  be 
jAAAiogy  readily  noticed,  '^provided  always,"  here  the  dif- 
ference  commences. 

93.  Although  the  wife  joins  in  the  mortgage, 
and  thereby  releases  her  right  of  dower,  and  al- 
though her  name  is  stated  as  one  of  th''  parties 
of  the  fir^t  part,  siill  the  husband  alone  makes  the 


The  hus- 
band 
•lone  co- 
▼enar^ts. 


FUKMS  A^O  I*:aj  LANATIONS. 


purposes  as  I  might  or  could  do  if  personally  pro- 
sent,  with  full  power  of  substitution  and  revoca- 
tion, hereby  ratifying  and  confirming  all  that  my 
said  attorney,  or  his  substitute,  shall  lawfully  do, 
or  cause  to  be  done,  by  virtue  hereof. 

3n  IDitncss  twljcreof,  I  have  hereunto  set  my 
liand  and  seal  the  twelfth  day  of  April,  one  thou- 
sand eight  hundred  and  fifty -one. 


WHJJAM  KETCHUM, 

Sealed  and  delivered  in  the  pre- 
sence of 

Stephen  Hicks. 


covenants  afterward,  as  in  the  words,  "and  the 
said  John  Selden." 

94.  The  morts^asfc  must  also  be  recorded  in 
the  County  Clerk's  office,  or  in  the  Office  of  the 
Register.  This  recording  makes  an  acknowledg- 
ment necessary,  and  it  is  made  either  before  a 
Commissioner  or  a  Justice  of  the  Peace  :  there  are 
books  expressly  for  the  record  of  mortgages,  and 
also  for  the  record  of  deeds  (Art.  67).  There  may 
be  a  mortgage  upon  leased  property. 

95.  In  New- York  an  immediate  mort^asre 
back  to  the  gran^.or  as  security  for  part  of  the 
payment,  does  not  require  the  signature  of  a 
wife,  since  dower  does  not  attach  when  the  deed 
and  morto'age  are  of  the  same  date. 

96.  The  equity  of  redemi)tion  is  1he  ri£>lit  of 
the  person  who  mortgages  to  redeem  the  property 


Mori 

gage    re- 

ccrdttd. 


Immedi- 
ate morfr- 

bau:k. 


I3i? 


133 


FORMS  AND  EXPLANATIONS. 


I 


Dutchess  CountYj  New-York,  ss  : 

Be   it  known,  that  on  the  12th  day  of  April, 
one  thousand  eight  hundred  and  fifty-one,  before 
Acknowi   me  personally  came  William  Ketchum,  known  t*) 
edgment   j^^  ^^  j^^  |}-^g  individual  described  in,  and  who  ex- 
ecuted the  above  Power  of  Attorney,  and  acknowl- 
edged that  he  executed  the  same. 

STEPHEN  HICKS,  Juslice 
Recorded  in  the  Register's  Office 
of    the    City    and    County    of 
New- York,  in  Liber  2,  of  Pow- 
ers of  Attorneys,  page  220. 
May  1,  1851. 


t 


Equity 
of        re- 
demp- 
tion. 


Foreclo- 
sure suit 


PubUc 
sale. 


[ 


BrnJ 
uiddat«. 


mortgaged.  The  foreclosure  of  a  mortgage  is  a 
process  which  cuts  off  the  power  of  redemption. 
The  property  does  not  at  once  belong  to  the  mort- 
gagee as  soon  as  the  interest  is  left  unpaid,  or  as 
soon  as  the  principal  becomes  due,  but  a  regular 
foreclosure  suit  is  usually  commenced,  and  sale 
made,  and  the  property  must  be  purchased  by  the 
mortgagee  at  such  sale  before  it  absolutely  be- 
comes his  own.  When  this  is  not  done,  a  forma! 
process  of  advertisement  is  resorted  to,  and  sale 
made  in  public,  and  a  deed  given  with  the  same 
effect  as  in  foreclosure. 

97.  A  bond  is  usually  given  by  the  mort- 
gagor, bearing  even  date  with  the  mortgage,  but 
the  absence  of  this  will  not  make  the  instrument 
less  valuable  as  a  mortgage  (Art.  60).  The 
amount  of  property  mortgaged  is  very  great,  es- 


FORMS  AND  EXPLANATIONS. 


Assignment  of  Mortgage. 

KnotD  all  men  bg  tljese  presents,  that  I,  Wil- 
liam Rogers,  of  the  City  of  New- York,  merchant, 
of  the  first  part,  for  and  in  consideration  of  the  consid.- 
sum  of  five  hundred  dollars,  lawful  money  of  the 
United  States,  to  me  in  hand  paid  by  James 
Tanger,  of  the  same  City,  of  the  second  part,  at 
or  before  the  ensealing  and  delivery  of  these  pre- 
sents, the  receipt  whereof  is  hereby  acknowledged, 
have  granted,  bargained,  sold,  assigned,  trans- 
ferred,  and  set  over,  and  by  these  presents  do 
grant,  bargain,  sell,  assign,  transfer,  and  set  over 
unto  the  said  party  of  the  second  part,  a  certam 
Indenture  of  Mortgage,  bearing  date  the  20th  of 
May,  one  thousand  eight  hundred  and  forty,  made 
by  Lewis  Conger,  and  Ann,  his  wife,  to  the  party 
of  the  first  part,  and  recorded  in  the  Office  of  the 
Register  of  the  City  and  County  of  New  York,  in 
Liber  75,  of  Mortgages,  page  30,  together  with 
the  bond  or  obligation  thereto  belonging,  and  the 


Refe 
reuot 


pecially  in  cities,  and  the  system  of  mortgaging 
is  well  calculated  to  answer  the  purposes  of  com- 
mercial men  where  quick  transfers  are  required. 
The  mortgage  is  removed  from  record  by  filing  in 
the  office  in  which  it  is  recorded  a  certificate 
called  a  Satisfaction  Piece. 

98.  The  assignee  of  a  mortgage  acquires  all 
the  rights  and  interest  of  the  assignor.  The  as- 
signment  refers  to  the  mortgage  itself,  in  order  to 
show  clearly  what  mortgage  is  assigned,  since 
there  may  be  others  similar  to  it.  The  assign- 
ment of  the  mortgage  must  be  acknowledged  and 
recorded,  for  reasons  quite  as  obvious  as  for  re- 
cording the  mortgage  itself  (Art.  94).  The  sig- 
nature of  the  wife  is  not  necessary  in  making  the 
assignment  (Art.  95),  since  the  right  gained  by 
mere  possession  of  the  mortgage  is  not  of  a  real 


Amonnt 
of   prop- 
erty 
mort- 
gaged. 


Satisfac- 
tion 
Piece. 


Right* 

of  the 
■ipw 


AcknoW* 
ledged 

and  re- 
corded. 


135 


'■•^'*immrmsm^^mm^'.^amw^imm^m-&'^-^::^mis^^ 


FORMS  AND  EXPLANATIONS. 


1 


FORMS  AND  EXPLANATIONS 


Powsr. 


]i      . ' 


"Witness. 


money  due,  and  to  grow  due  thereon,  with  the  in- 
terest, QLo  l)avc  a\\b  to  l]olb  the  same  unto  the 
said  party  of  the  second  part,  his  executors,  ad- 
ministrators, and  assigns  for  ever,  subject  only  to 
the  proviso  in  the  said  Indenture  of  Mort^rasfe 
mentioned  :  ^nu  1  do  hereby  make,  constitute, 
and  appoint  the  said  party  of  the  second  part  my 
true  and  lawful  attorney  irrevocable,  in  my  name 
or  otherwise,  but  at  his  own  proper  costs  and 
charges,  to  have,  use,  and  take,  all  lawful  ways 
and  means  for  the  recovery  of  the  said  money, 
and  interest,  and,  in  case  of  payment,  to  discharge 
the  same  as  fuUv  as  I  mi^^fht  or  could  do  if  these 
presents  were  not  made. 

3n  tDitncss  tx)l]crccf,  I  have  hereunto  set  my 
hand  and  seal  the  tenth  day  of  January,  one  thou- 
sand eight  hundred  and  forty-five.  .\\^L4 

WILLIAM  ROGERS. 

In  the  presence  of 

Henry  Wells. 


I 


iHi'^ili 


r 

Is 


I 


but  of  a  personal  nature  (Art.  63,    101).     The  as- 
May  be   signcc  may   become   an  assignor,  and   thus   the 
again,     sauic  mortgage  may  be  assigned,  in  succession, 
to   several   persons.     This   power  of  assignment 
renders    mortgages,    leases,    copyrights,   patents, 
policies  of  insurance,  etc.,  like  promissory  notes, 
(pp.  103,)  quite  convenient  for  business  purposes. 
99.  Until  April   7th,  1848,  the  property  of 
married  women,  if  in  land,  (Art.    63),  w^as  par- 
tially under  the  control  of  their  husbands  ;  if  per- 
sonal, it  belonged  to  the  husband  altogether  (Art. 
101).     In  the  State  of  New- York,  the  law  is  now 
Aarriage  Otherwise,  and  the  existence  of  the  marriage  re- 
lation does  not  surrender  the  wife's  right  and  title 
to  her  own  property  of  whatever  description  it  may 
be,  neither  is  it  liable  for  the  debts  contracted  by 
her  husband. 


I  Women 

retain 

their 

rights 

after 


136 


Recorded  in  the  Register's  Office  ' 
of  the  City  and  County  of  New- 
York,  in  Liber  2,  of  Powers  of 
Attornf/y,  page  220. 

Matthew  Cole,  Register. 
May  1,  1851. 


MiaaU 
oficcori. 


J 


Personal  Property,  Chattels,  Bill 

of  Sale  of  Goods. 

mnom  all  men  bjj  tljese  presents,  that  I,  John 

Warner,  of  New- York  city,  for  and  in  considera- 
tion of  the  sum  of  five  thousand  dollars,  to  me  in 
hand  paid  by  Calvin  Hone,  of  the  same  city,  at 
or  before  the  sealing  and  delivery  of  these  pre- 
sents, the  receipt  whereof  I  do  hereby  acknowl- 
edge, have  granted,  bargained,  and  sold,  and  by 
^hese  presents  do  grant,  bargain,  and  sell  unto 
he  said  Hone,  his  executors,  administrators,  and 
assigns,   all    the    goods,    household    stuff,  imple- 


Conside- 
r&tioa. 


Power  ol 
attorney. 


100.  It  is  often  necessary  for  a  party  in  one 
place  to  transact  business  with  a  party  residing 
in  another.  This  is  more  conveniently  done  by 
authorizing  a  resident  of  the  same  place  to  act 
for  the  absent  party.  It  is  also  customary  for 
business  persons,  when  leaving  home  for  a  long 
period,  to  empower  seme  person  to  transact  such 
necessary  business  as  might  arise  during  their 
absence.  The  writing  which  delegates  such  au- 
!  thority  is  called  a  Power  of  Attorney  (pp.  132,  148). 

The   Power  of  Attorney  should   generally  be 
I  acknowledged   and   recorded,  since  the  acts  per- 
!  formed  receive  their  validity  from  the  instrument  ^Xt*^ 
which  authorizes  their  execution  ;  the  instrumant,  "i^^^'^ 
howe ^er,  is  not  the  less  binding  if  no  record  of      tau. 
the   same    is    made  in  the    Clerk's   office.^   The 
I  power  of  attorney   is   valid  during   the  lifetime 


FORMS  AND   EXPLANATIONS 


'  Warran- 


I 


ty. 


ments,  and  furniture,  and  all  other  goods  and 
chattels  whatever,  mentioned  and  expressed  in 
the  Schedule  hereto  annexed  :  ®0  l)avc  a\\b  to  l)olb 
all  and  singular  the  said  goods  and  household  stulT 
and  furniture,  and  other  the  premises  above  bar- 
gained or  mentioned,  or  intended  so  to  be,  to  the 
said  Hone,  his  executorj;  administrators,  and  as- 
signs, and  against  me,  the  said  Warner,  my  ex- 
ecutors and  administrators,  and  as^ainst  all  and 
every  other  person  and  persons  whomsoever  shall 
and  will  warrant,  and  by  these  presents  for  ever 
defend.  Of  all  and  singular  which  said  goods, 
&c.,  I  have  put  the  said  Hone  in  full  possession. 

3n  toitncos  culjcrcof,  I  have  hereunto  set  my 
hand  and  seal  this  tenth  day  of  March,  one  thou- 
sand eight  hundred  and  fifty-one. 

JOHN  WARNER. 


Sealed  and  delivered  in  the  pre- 
sence of  James  Rand 


tn^ 


liCses  its 

validity. 


Per   for- 
eign 
countries 


I 


Between 
8tat@3. 


Personal 
property 


only  of  the  person  who  gives  it ;  the  moment  he 
dies,  the  instrument  becomes  null  and  void.  The 
instrument  is  also  valid  until  the  person  who 
takes  a  benefit  under  it  receives  notice  that  the 
same  is  revoked. 

The  power  of  attorney  to  be  sent  to  a  foreign 
country  must  not  only  be  acknowledsred,  but  the 
acknowledo'ment  must  be  certified  by  the  Consul 
of  the  government  to  which  the  instrument  is  to 
be  sent.  When  they  are  designed  for  use  in 
another  State,  they  should  be  executed  according 
to  the  law  of  the  State  for  which  they  are  iu- 1 
tended.  j 

101.  Personal  property  is  that  which   is   at- 1 
tached  to  or  may  be  carried  with  the  person,  and 
disposed  of  accordmg  to   the   laws  of  the   place 
where  the  person  rt^sides  :  it  consists  of  household! 


FORMS  AND  EXPLANATIONS. 


Bill  cf  Sale  of  a  Registered  Vessel. 

tlo  all  to  raliont  l\)C5t  presents  sljall  come, 

G-reeting:  Know  ye  that  1,  Samuel  Stebbins, 
owner  of  the  brig  or  vessel,  of  one  thousand  tons 
burthen,  called  the  Hector,  for  and  in  considora- 
tion  of  the  sum  of  ten  thousand  dollars,  lawtu 
money  of  the  United  States,  to  me  m  hand  paid 
before  the  ensealing  and  delivery  of  these  pre- 
sents, by  Charles  D.  Remsen,  of  Boston,  the  re- 
ceipt whereof  I  do  hereby  acknowledge,  and  my- 
self therewith  fully  satisfied,  have  bargained  and 
sold,  and  by  these  presents  do  bargain  and  sell 
unto  the  said  Remsen,  his  executors,  adminis- 
trators, or  assigns,  the  said  brig  or  vessel,  together 
with  the  masts,  bowsprit,  sails,  boat,  anchors,  ca- 
bles, and  all  other  necessaries  thereto  appertain- 
m^  and  belonging :  the  certificate  of  the  enrol- 
ment of  which  said  vessel  is  as  follows :  (here  in- 
sert certificate,)  to  have  and  to  hold  the  said  ves- 
sel, and  appurtenances  thereunto  belonging  unto 


ratioo. 


Descrip- 
tion cl 
property 


Impor- 
tance. 


188 


furniture,  wearing  apparel,  horses  and  equipage, 
money,  stocks,  bonds  and  mortgages,  goods,  ves- 
sels, promissory  notes,  etc.  In  the  early  history 
of  a  country,  real  estate  is  regarded  as  essentia 
to  wealth,  but  as  trade  increases,  and  as  small 
towns  become  commercial  cities,  we  often  see 
men  of  immense  wealth  who  may  have  little  or 

no  real  property. 

102.  Chattels.  This  is  another  name  for  per- 
sonal  property :  there  are  two  kinds,  "  chattels  ^'^  "* ' 
real"  and  "  chattels  personal."  The  former  con- 
sist of  rights  concerning  realty  as  a  lease  of  land 
for  years  or  for  life  ;  the  latter  are  independent  of 
land;  as  money,  stocks,  etc. 

There  is  another  distinction  connected  with 

chattels;    things    in    possession,   and   things    in 

I  action;    the  latter    are    personal   rights  that  are 


I 


Thing! 
in      poi. 
session. 


*.. 


189 


Ill 


FORMS  AND  EXPLANATIONS. 


Witnei* 


t 


Bills     cf 
•a;e. 


him,  the  said  Remsen,  his  executors,  adminis- 
trators, and  assigns,  to  his  and  their  only  proper 
use,  benefit,  and  behoof  forever ;  ^nh  I  the  said 
Stebbins,  for  myself,  my  heirs,  executors,  and 
administrators,  have,  and  by  these  presents  do 
promise,  covenant,  and  agree,  to  and  with  the 
said  Remsen,  his  heirs,  executors,  and  adminis- 
trators, to  warrant  and  defend  the  said  brio-  or 
vessel,  and  all  the  other  before  mentioned  appur- 
tenances against  all  and  every  person  and  per- 
sons whomsoever. 

3u  tcstimcnt!  toljcrcof,  I  have  hereunto  set  my 
hand  and  seal  this  (3rd)  third  day  of  January, 
one  thousand  eight  hundred  and  fifty-one. 

SAMUEL  STEBBINS. 


Sealed  and  delivered  in  the  pre-  ) 


ffll 


Wm.  Ostrander. 


5 


not  reduced  to  possession,  but  recoverable  by  a 
suit  at  kiw,  as  damages  due  for  a  breach  of  cove- 
nant, or  for  the  detention  of  chattels,  &cg.  The 
possession  of  a  chattel  is  considered  the  owner- 
ship unless  the  contrary  is  shown.  The  detail 
of  laws  which  govern  chattels  are  numerous  and, 
complicated,  and  the  limits  we  have  chosen  only 
allow  us  to  give  the  simplest  outline  of  the  sub- 
jects treated  ;  if  the  Student  desires  further  infor- 
mation, he  is  rete.rred  to  the  Commentaries  by  the 
late  Chancellor  Kent. 

103.  Bills  of  Sale  are  similar  in  form  to  the 
above,  and  differ  only  in  regard  to  the  articles  to 
be  sold  :  the  sale  of  chattels  is  usually  effected  by 
a  BiU  of  Sale,  but  a  bequest  of  chattels  by  a  wnll. 

104.  Laws  relating  to  commerce  are  mnde  bv 


Congress,  a  nd  peculiar  privileges  are  conferred  upon  I 


140 


J 


FORMS  ANB  EXPLANATIONS 


Simple  Eosid  from  one  to  one. 

Hnou)  all  Max  bg  tl)cse  Presents,  that  I,  Wil- 

liam  Hyde,  of  Philadelphia,  am  held  and   firmly   Parties 
bound  to  James   Holt,  of  New-York,  in  the  sum 
of   six   thousand    dollars,    lawful   monev    of   the 
United  States,  to  be  paid  unto  the  said  Holt,  his 


Tenaltf 


executors,    administrators,  or 


assigns. 


to   which 


payment,  w^ell  and  truly  to  be  made,  I  bind  my- 
self,   my    heirs,    executors,    and    administrators, 
firmly  by  these  presents.     Sealed  with  my  seal 
IDatcb  the  9th  day  of  April,  one  thousand  eight 
hundred  and  fifty-one. 

The  QTonbition  of  this  obligation  is  such,  that 
if  the  above  bounden  William  Hyde,  his  heirs, 
''executors,  or  administrators,  do  w^ell  and  truly 
pay,  or  cause  to  be  paid,  unto  the  above  named 
Holt,  his  executors,  administrators,  or  assigns, 
the  full  sum  of  three  thousand  dollars,  like  money 
as  aforesaid,  with  legal  interest  for  the  same,  on 
or  before  the  9th  day  of  April,  one  thousand  eight 


Condi- 
tion. 


American  built  ships  owned  and  commanded  by 
American  citizens.  For  the  security  of  these 
privileges,  acts  of  registry  have  been  passed ;  the 
registry  is  made  by  the  Collector  of  the  port. 

105.  A  Bond  is  an  obligation  for  the  payment 
of  money,  or  for  the  performance  or  non-perform- 
ance of  certain  acts,  with  a  penalty  annexed  in 
case  of  failure  or  disobedience :  the  above  is  a  sim- 
ple form. 

When  drawn  bearing  even  date  with  the 
mortgage  on  land,  it  is  usual  to  add  the  Inter- 
est Clause. 

There  are  diiferent  kinds  of  Bonds.  Corpora- 
tion bonds  and  Corporate  bonds  are  the  bond-;  of 
a  corporation  or  of  an  incorporated  Company ;  thus 
I  the  Bonds  of  the  Corporation  of  the  City  of  New- 
I  York,  and  the  Bonds  of  the  Erie  Railroad  Com- 

r4f 


Registi 


Bend. 


Interest 
clanae. 


mmim 


Interest 
clause. 


The  sev 
eral 
kinds. 


FORMS  AND  EXPLANATIONS. 


hnndred  and  fifty-two,  then  this  obligation  to  be 
void,  otherwise  to  be  in  full  force  and  virtue. 

WILLIAM  HYDE. 


Sealed  and  delivered  in  the  pre- 
sence of 

Ensign  Hayt. 


rii^ 


Interest  Clause. 

^nb  it  i^  hereby  expressly  agreed,  that  should 
any  default  be  made  in  the  payment  of  the  said 
interest,  or  of  any  part  thereof,  on  any  day  whereon 
the  same  is  payable,  as  above  expressed,  and 
should  the  same  remain  unpaid  and  in  arrear  for 
the  space  of  thirty  days,  then  and  from  thence- 
forth, that   is  to  say  after  the  lapse  of  the  said 


pany  are  examples.  The  Indemnity  bond  for  se- 
curity against  loss,  as  a  bond  to  make  good  all 
loss  to  the  endorser  of  another's  note  ;  Collector's 
bonds,  Sheritr's  bonds,  Administrators  bond,  &c. 

The  penal  sum  mentioned  in  the  bond  is 
usually  double  the  amount  intended  to  be  se- 
cured;  this  wdll  cover  all  the  interest  due,  and 
expenses  necessary  to  collect  the  bond.  It  is  not 
'^um**^  strictly  true  that  the  penal  sum  is  fully  paid  if 
the  condition  of  the  bond  is  not  complied  with,  as 
the  instrument  would  seem  to  imply,  only  tho 
damage  actually  sustained  is  to  be  made  good, 
but  the  penal  sum  is  stated  in  order  to  name  defi- 
nitively some  amount  which  will  probably  cover 
•  the  whole  damage. 

The  person  giving  the  bond  is  called  the  obli- 
.io^.-.c.^    and  binds  his  executors,  admi-j 


gor  or  bondsman, 


FORMS  AND  EXPLANATIONS. 


1 


thirty  days,  the  aforesaid  principal  sum  of  three 
thousand  dollars,  with  all  arrearage  of  interest 
thereon,  shall  at  the  option  of  the  said  Holt  be- 
come and  be  due  and  payable  immediately  there- 
after,  although  the  period  above  limited  for  the 
payment  thereof  may  not  then  have  expired,  any 
thing  hereinbefore  contained  to  the  contrary 
thereof  in  any  wise  notwithstanding. 


Mortgage  of  Goods  and  Chattels. 

®0  all  t0  t»l)0m  t\)CBC  presents  sl)all  come, 

HnotX)  se,  that  I,  John  Furman,  of  the  City  of 
New-York,  hatter,  of  the  first  part,  for  the  pur- 
pose of  securing  the  payment  of  the  money  here- 
inafter mentioned,  for  and  in  consideration  of  the 
sum  of  one  dollar,  to  me  duly  paid  by  Isaac  Wall, 
of  the  second  part,  at  or  before  the  ensealing  and 
delivery  of  these  presents,  the  receipt  whereof  is 


Considt 
ration. 


nistrators,  &c.,  thus  rendering  his  estate  liable  in 
the  event  of  his  death. 

The  Interest  Clause  is  attached  to  or  incorpo- 
rated  in  the  bond  before  alluded  to,  for  the  reason 
that  the  interest  might  otherwise  be  due  for  a 
long  time,  and  for  want  of  some  definitive  under- 
standing, a  suit  might  be  so  long  delayed  as  to 
endanger  the  interests  of  the  mortgagee. 

There  is  no  record  made  of  the  bond  as  there 
is  of  the  mortgage  ;  in  certain  cases  it  must  be  filed, 
but  this  is  generally  in  strictly  legal  proceedings 
in  Courts  of  Justice,  otherwise  bonds  are  merely 
held  by  the  person  interested  as  security  for  a 
debt  or  liability.  Since  bonds  are  not  recorded, 
jthey  need  not  be  acknowledged;  it  is  only  neces- 
sary to  have  them  signed,  sealed,  and  delivered 
in  the  presence  of  a  witness. 


Delay. 


Acknow 
ment. 


I  ill    lllKj    j^uo^v. 


H2 


143 


FORMS  AND  EXPLANATIONS, 


Where 

•Ituated 


Condi- 
tion. 


Chattel 
mort- 
gage. 


Filed. 


hereby  acknowledged,  have  bargained  and  sold, 
and  by  these  presents  do  grant,  bargain,  and  sell 
unto  the  said  party  of  the  second  part,  all  the  fur- 
niture contained  in  the  house  known  and  di.-tin- 
guished  as  number  20,  Columbia  street,  and  all 
other  goods  and  chattels  mentioned  in  the  schnd- 
ule  hereunto  annexed,  and  now  in  the  same.      (Ho 
have  anh  ta  i)Dlb   all  and  singular  the  goods  and  * 
chattels  above    bargained  and   sold,   or  intended 
^o  to  be,  unto  the  said  party  of  the  second  part, 
his  executors,  administrators,  and  assigns  forever: 
!3.nb  the  said  party  of  the  first  part,  for  himself, 
his  heirs,  executors,  and  administrators,  all  and 
singular  the  said  goods  and  chattels  above  bar- 
gained and  sold  unto  the  said  party  of  the  second 
part,  his  heirs,  executors,  administrators,  and  as- 
signs, against  the  said  party  of  the  first  part,  and 
against  all  and  every  person  or  persons  wdiomso- 
ever  shall,  and  will,  warrant  and  forever  defend. 
Upon  aronbition,  that  if  the  said  party  of  the 
first  part   shall   and   do  well  and  truly  pay  untoj 


The  above  is  a  bond   from  one  person  to  one 
other  person;   sometimes   two  join   in  the  same' 
bond,  and   then   the    language  should   bind  them 
jointly  and  severally,  and  it  should  be  signed  and 
sealed  bv  both  of  them. 

106.  The  mortgage  of  Chattels  is  similar  in 
form  to  that  of  real  estate,  and  its  object  is  thej 
same,  viz.,  security  for  money  due  or  loaned,  or 
against  liability.  The  instrument  requires  the 
signature  and  seal  of  the  mortgagor  in  the  pre- 
sence of  a  witness,  and  the  signature  of  the  mort- 
gagor also  at  the  close  of  the  schedule,  to  show 
his  assent  to  a  mortgage  of  the  articles  stated. 
Since  this  is  not  recorded,  no  acknowledgment  is 
required;  it  is  simply  filed  in  the  office  of  the 
Clerk  of  the  County  or  Town,  or  of  the  Register. 
Unless  the  same  is  renewed  at  or  before  the  close 


144 


.  J 


FORMS  AND  EXPLANATIONS. 


the  said  party  of  the  second  part,  \is  executors, 
administrators,  or  assigns,  the  sum  of  five  hun- 
dred dollars,  lawful  money  of  the  United  States, 
with  interest  thereon,  one  year  from  this  date, 
then  these  presents  shall  be  void,  ^itb  the  said 
party  of  the  first  part,  for  himself,  his  executors,  ^^Core-^ 
administrators,  and  assigns,  doth  covenant  and  ''^^^^^^f 
agree  to  and  with  the  said  party  of  the  second 
part,  his  executors,  administrators,  and  assigns, 
that  in  case  default  shall  be  made  in  the  pay- 
ment of  the  said  sum  above  mentioned,  then  it 
shall  and  may  be  lawful  for,  and  I,  the  said  party 
of  the  first  part,  do  hereby  authorize  and  empower 
the  said  party  of  the  second  part,  his  executors, 
administrators,  and  assigns,  with  the  aid  and  as- 
sistance  of  any  person  or  persons,  to  enter  my 
dwelling-house,  store,  and  other  premises,  and 
such  other  place  or  places  as  the  said  goods  and 
chattels  are  or  may  be  placed,  and  take  and  con- 
vey away  the  said  goods  and  chattels,  and  to  sell 
and  dispose  of  the  same  for  the  best  price  they 


ticn 
piece 


of  the  year,  its  virtue  expires,  and  every  creditor 
will  have  the  same  right  to  the  property  as  the 
mortgagee.  This  mortgage  can  be  satisfied  at  Satitfao- 
any  time  during  the  year  by  a  receipt  on  account 
of  the  mort^asre  from  the  n^rtga'gee  to  the  mort- 
gagor,  or  by  filing  a  satisfaction  piece  snnilar  to 
that  in  real  estate  (pp.    131). 

This  mortgage  is  very  convenient  for  tempo- 
rary loans  to  persons  who  have  no  real  property. 
The  chattels  are  often  insured,  and  the  policy  as- 
signed to  the  person  loaning  the  money. 

107.  Patents  and  Copyrights  come  under  the 
classification  of  personal  property.  A  patent  is 
an  exclusive  right  or  privilege  to  receive  benefits 
resulting  from  the  public  use  of  an  invention  or 
discovery.     The   Patent  Office  is   established  at 

Washington,  and  is  under  the  control  of  the  gen- 

— - 


Us6      rf 

the  m  srt 


Fatent 


FORMS  AND  EXPLANATIONS. 


can  obtain,  and,  out  of  the  proceeds  thereof,  to 
retain  and  pay  the  said  sum  above  mentioned, 
and  all  charges  touching  the  same,  rendering  the 
overplus  (if  any)  unto  me,  or  to  my  executors, 
administrators,  or  assigns. 

^\\ii^  until  bcftluU  be  made  in  the  payment  of 
the  i?aid  sum  of  money,  I  am  to  remain  and  con- 
tinue in  the  quiet  and  peaceable  possession  of  the 
said  goods  and  chattels,  and  in  the  full  and  free 
enjoyment  of  the  same. 

Jn  initncoG  tDl]crcof,  I,  the  said  party  of  the 
first  part,  have  hereunto  set  my  hand  and  seal 
the  eighth  day  of  May,  one  thousand  eight  hun- 
dred and  fifty-one. 


Agree- 
ment   of 
posses- 
sion. 


D»t«. 


JOHN  FURMAN. 

Sealed  and  delivered  in  the  pre- 
sence of 

Brainard  Hope. 


If 


tioi. 


eral  government.  Application  is  made,  in  writing, 
to  the  Commissioner  of  Patents,  by  the  person 
who  has  invented  or  discovered  any  new  and  use- 
ful art,  machine,  manufacture,  or  composition  of 
matter,  or  any  new^and  useful  improvement  on 
any  art,  machine,  manufacture,  or  composition  of 
matter  not  known  or  used  by  others  before  his 
discovery  or  invention  thereof,  and  not  at  the  time 
of  his  application  for  a  patent  in  public  use  or  for 
sale  with  his  consent  or  allowance  as  inventor  or 
discoverer.  A  written  description  must  be  given, 
and  also  a  model  when  the  subject  admits.  An 
nath  or  affirmation  must  be  made  by  the  a])p]i- 
cant,  that  he  believes  himself  to  be  the  orio^inal  in-l 
ventor  or  discoverer,  and  does  not  know  or  believe! 
that  the  ^ame  was  ever  before  known  or  used,  and 
he  must  further  state  of  what  country  he  is  a  citizen. 


Descrip- 
tion. 


Affirm 
tion 
oath. 


u. 


I 


FORMS  AND  EXPLANATI0^'3 


SCHEDULE. 

2  mahogany  sofa  bedsteads. 
1  rosewood  piano. 

1  large  looking-glass. 

2  small  " 

1  marble  top  table. 

1  sofa. 

2  mahogany  bureas. 

8  pairs  of  window  shades. 

1  astral  lamp. 

1  divan. 

6  mahogany  chairs,  &c. 

JOHN  FURMAN. 


»f  mcrt- 

gag«d 

jurticiM 


Letters 
patent. 


llfi 


If  the  applicant  is  a  citizen  of  the  L-nited 
States,  or  an  alien  of  one  year's  residence,  he  is  f©«« 
to  pay  into  the  United  States  Treasury  $30;  if  a 
subject  of  Great  Britain,  $500  ;  all  other  appli- 
cants, $300.  If  the  application  is  granted,  let- 
ters patent  are  issued  giving  exclusive  rights  to 
the  patentee  for  14  years  ;  in  some  cases  this  is  re- 
newed for  a  period  of  7  years.  It  is  not  essential 
that  the  original  patentee  should  always  hold  the 
letters  patent,  for  like  other  personal  property, 
they  may  be  assigned,  or  at  the  death  of  the  pa- 
tentee, the  privileges  may  accrue  to  his  heirs,  ex- 
ecutors, and  administrators. 

The.Circuit  and  District  Court  of  the  United 
States  have  jurisdiction  over  cases  for  the  viola- 
tion of  patents. 

108.   Copyright  law^s  are  made  by  Congress. 

■  147 


Assign- 
die  lit 


^ 


a.* 
t  on 


.J 


FORMS  AND  EXPLANATIONS. 


p 


o^^er 


Dividends, 


4. 


:!j!Iect 


4-5^ 


A^t  000. 


,  T,  col- 
i  \mc\  div- 
dtiuds. 


Knoro  all  Ulcn  h\)  tl)csc  Presents,  that  I,  Her- 
man Cuher,  of  Hudson,  do  hereby  appoint  Ste- 
phen Hart,  of  Jersey  city,  State  of  New  Jersey, 
my  attorney  for  me,  and  in  my  name,  to  receive 
the  dividend,  or  dividends,  which  are,  or  shall  be 
payable,  according  to  law,  on  the  first  day  of  Au- 
gust, one  thousand  eight  hundred  and  fifty-one, 
on  all  the  stock  standing  in  my  name  on  the  books 
of  the  Morris  Canal  and  Banking  Company,  hereby 
ratifying  and  confirming  all  that  my  said  attorney 
or  substitute  or  substitutes  shall  do  by  virtue  hereof. 

3n  tsitncso  iui)crcof,  1  have  hereunto  set  my 
hand  and  seal  the  1st  day  of  May,  1851,  (one 
thousand  eight  hundred  and  fifty-one.) 

HERMAN  CULVER. 

Sealed  and  delivered  in  the  pre- 
sence of        Robert  Hutton. 


The  authors  of  books,  maps,  charts,  musical  com- 
positions ;  also  the  inventors  and  designers  of 
prints,  cuts,  and  engravings,  being  citizens  of  the 
Atuhors.  United  States,  or  residents  thereof,  can  secure, 
by  copyright,  the  exclusive  privilege  of  printing, 
re-printing,  publishing,  and  vending  their  own 
productions  for  the  period  of  twantyeight  years  from 
the  time  of  recording  the  title  thereof.  The  copy- 
right can  generally  be  renewed  at  the  close  of  this 
period,  and  held  thereafter  fourteen  years. 

It  is  required  that  the  author  or  proprietor,  be* 
fore  publication,  deposit  a  printed  copy  of  the  ti- 
Copfde-  ^^^  ^f  ^^^  book,  map,  chart,  musical  composition, 
posited,    print,  cut,  or  engraving,  in  the  Clerk's   Office  of 
the  District  Court  wherein  he  resides,  that  a  re- 
I  cord  of  the  same  can  be  made  ;  also,  that  he  cause  | 

j  to  be  inserted   on  the  title  page,  or  on  tho   pagej 


Will  botli  of  Personal  and  Real 

Jn  U)e  name  of  ©0b,  ^men.  In  view  of  the 
uncertainty  of  life,  and  desirous  to  settle  my 
worldly  affairs  while  I  have  strength  and  ability 
so  to  do,  with  sound  and  disposing  mind  and 
memory,  and  with  healthful  body,  I,  Philip  Sloan, 
of  the  City  and  County  of  New- York,  late  ship 
builder,  do  make,  publish,  and  declare  this  my 
Last  Will  and  Testament. 

3t  is  mg  toill^  that  my  funeral  expenses,  and 
all  my  just  debts,  be  paid  as  soon  as  they  can 
conveniently,  by  my  executors  herein  named  after 
my  decease. 

3  giuc  anh  bcqncatl]  to  my  beloved  wife,  Mary, 
absolutely,  the  furniture  of  the  house  in  which  I   ^[^^r^, 
now  reside.  No   one,  Clinton  Place,  together  with     ^^^^ 
all  the  fuel  and  consumable  household  provisions,     luteiy 
land  the  linen,  china,  and  glass,  together  with  the 
money  and  bank  notes  which  may  be  in  the  said 


Funeral 

expenses 

and 

debts. 


US 


next  following,  in  each  and  every  edition  of  the 
book,  or  cause  to  be  impressed  on  the  face  of 
every  map,  chart,  musical  composition,  print,  cut, 
and  engraving,  or  upon  the  title  or  frontispiece  of 
a  volume  of  the  same,  the  words,  ''Entered  ac- 
cording to  Act  of  Congress  in  the  year  (date),  by 
(proprietor's  name),  in  the  Clerk's  Office  of  the 
District  Court  of  (name  of  the  District)." 

The  author  or  proprietor  is  further  required  to 
deliver,  or  cause  to  be  delivered  within  three 
months  after  publishing,  a  copy  of  the  book,  map, 
etc.,  to  the  Clerk  of  the  District  Court  where  the 
aforesaid  record  was  made,  also  one  copy  to  the 
Librarian  of  the  Smithsonian  Institution,  and 
another  to  the  Librarian  of  Congress  Library.  A 
copyright  may  exist  in  a  translation  of  a  work,  in 
jthe   additional   notes,  or  in  an  abridgement.     As- 

1 _! - 


Copiei 
deliT' 
ered. 


(t> 


149 


r  m 


FCRMS  AND  EXPLANATIONa 


InTentO' 


Devise  of 

land   for 

one    life 

and  then 

in       fee 

forever. 


house  at  my  decease,  the  plate,  wearing  apparel, 
&C.5  and  I  direct  my  executors  to  cause  an  in- 
ventory to  be  made  of  the  same  articles,  to  be 
signed  by  my  said  wife  and  executors  before  their 
delivery  to  her,  and  two  copies  to  be  made  of  said 
inventory,  and  one  to  be  delivered  to  my  said 
wife,  and  the  other  kept  by  my  executors. 

3  giue  anh  hcviBC  unto  my  son  Samuel,  all 
my  freehold  messuage,  with  the  out  buildings, 
garden,  grounds,  thereto  adjoining  and  pertain- 
ing, situate  and  (being  now  in  the  possession  and 
occupation  of  Jesse  Opdyke,  for  a  term  of  two 
years)  lying  in  the  County  of  Westchester,  State 
of  New- York,  for  and  during  his  natural  life,  and 
from  and  immediately  after  his  decease,  I  devise 
such  hereditaments  to  my  son  William  and  his 
heirs  forever. 

^iiir  ujljcreas,  by  virtue  of  a  lease  bearing 
date  on  or  about  the  first  day  of  August,  1840, 
made  between  Harvey  Bacon,  of  the  first  part, 
and  myself,  of  the  second  part,  I  am  entitled  to 


liease. 


'4 


signments  of  copyrights  should  be  made  by  re- 
cord thereof  in  the  Office  of  the  District  Court. 

109.  A  Will  or  Testament  is  a  written  instru- 
wiiL       ment  made  in  a  manner  prescribed  by  law,  and 

declaring  the  wishes  of  the  testator  in  reference 
to  the  disposal  of  property  after  his  death.  Every 
person  has  a  right  to  dispose  of  his  own  property 
in  the  manner  he  chooses,  unless  with  some  un- 
just or  injurious  purpose.  In  this  State,  neither 
Property  real  uor  personal  property  can,  in  any  manner,  be 
controlled  by  will  for  a  longer  period  than  during 
the  lives  of  two  persons  named  in  the  will,  and 
living  at  the  time  of  the  testator's  death. 

110.  Executors  are  usually  named  in  a  will' 
for  the  purpose  of  carrying  oat  its  provisions,  but 
this  is  not  essential  to  its  validity.     The  personal! 
property  left  by  an  intestate,  or  a  person  dying j 


con 

trolled 

by   will 


EzecQ 
ten. 


U 


i 


FORMS  AND  EXPLANATIONS. 


term    oi 
ye&rt. 


the  rem9i'3dpr  of  a  term  of  years  now  to  come  and 
unexpired,  of  and  in  all  that  messuage,  tenement, 
or  dwelling-house,  situate  and  being  in  Twelfth 
street,  in  the  City  of  New- York,  now  in  the  occu- 
pation  of  Lewi).  Murray  :  IXom  3  Qivc  to  my  son  Gin  of  • 
Jackson,  the  said  leasehold  premises,  for  and 
during  so  many  years  as  of  the  said  term  as  he 
shall  live,  and  after  his  decease,  I  bequeath  the 
same  leasehold  premises  to  my  grandson,  Theo- 
dore Sloan,  for  the  whole  of  the  unexpired  term 
of  my  said  son's  decease,  subject  to  all  the  con- 
ditions thereinafter  contained  nevertheless. 

J  ginc  anh  hcviBC  unto  my  son  Charles,  and 
his  heirs  forever,  all  that  farm  in  the  County  of 
Dutchess,  upon  which  I  have  been  accustomed  to 
reside  during  the  summer  season,  with  all  the 
stock  and  buildings  thereon,  with  their  furniture 
and  appurtenances,  subject  to  this  condition,  ne- 
vertheless, that  he  execute  a  bond,  and  also  to- 
gether with  his  wife,  a  mortgage  to  my  cousin 
James  Sloan,  to  secure  the  payment  of  five  thou- 


Devisa 

of    land 

in  fe«. 


Condi- 
tion- 


Ailmin- 
istratonk 


150 


without  leaving  a  will,  is  disposed  of  by  admin- 
istrators duly  appointed  by  the  Court.  Admin- 
istrators are*^  always  required  to  give  security, 
and  Executors,  residing  in  another  State,  are  usu- 
ally required  to  give  security. 

A  Codicil  is  an  instrument  additional  to  the 
will,  executed  at  any  time  afterward  by  the  same  Cndicii. 
testator,  with  the  same  formalities  as  the  will  it- 
self, and  designed  to  modify  some  of  its  provisions, 
or  explain  more  fully  some  portion  of  it  which  might 
not  be  clearly  understood.  There  may  be  several 
codicils  annexed  to  the  same  will,  and  the  wishes 
of  the  testator  are  to  to  be  gathered  from  the 
main  instrument  and  its  codicils  taken  togethei. 

111.   The  form  here  given  for  a  will,  is  com- 

mon  in  the  State  of  New- York,  and  those  used  in 

'other  States  are  not  materially  different,  some  ro- 

L 

151 


Form 
and  wit- 

ne»ft>. 


J 


m 


4a 


il 


nh 

"J  b» 

I': 


5*>; 


If* 

'  1(1 


FORMS  AND  EXPLANATIONS. 


B«:ii2est 
in    trust 
i  for    one 
I      Ufe. 


i  poii»:cn 
'  of      this 
trust 
fuiid. 


sand  dollars,  with  annual  interest  thereon,  at  the 
termination  of  the  period  of  five  years  from  the 
date  of  the  deed  to  my  said  son,  of  the  same  pro- 
perty, from  my  executors,  which  I  order  and  di- 
rect them  to  give  as  soon  as  can  consistently  be 
done  at  least  eighteen  months  from  my  decease. 

3  Qwc  a\\b  bcqueatl)  to  my  executors  herein 
named,  the  sum  of  twenty  thousand  dollars,  in 
trust,  nevertheless,  to  invest  the  same  on  bond 
and  mortgage,  or  in  good  and  safe  stocks,  in  their 
discretion^  and  I  order  and  direct  them  to  pay  the 
interest  or  proceeds  of  the  same,  semi-annually, 
to  my  beloved  wife,  Mary,  during  her  life,  and  at 
her  death  I  give  the  said  sum  of  twenty  thou- 
sand dollars  to  be  divided  between  the  follow- 
ing benevolent  societies,  in  the  following  man- 


ner 


$2000  to  the  American  Bible  Society,  located 
in  the  City  of  New- York. 

$5000  to  the  American  Tract  Society,  located 
in  the  same  City. 


Resi- 

ience   cf 

w'it- 

nessei. 


I  liiterlin- 
eAtions. 


quiring  three,  and  others  only  two  witnesses, ! 
Although  the  law  requires  that  it  shall  be  exe-  ^ 
cuted  in  the  presence  of  witnesses,  yet  no  partic 
ular  form  is  essential,  further  than  to  have  ii  , 
legal,  explicit,  and  complete.  The  manner  of; 
execution,  shown  at  length  in  the  instrument | 
above,  has  grown  into  ordinary  practice,  and  I 
is  completely  satisfactory.  The  witnesses  arej 
required  to  set  down  their  names  and  residences 
upon  the  instrument.  A  will  may  be  revoked 
any  time  during  the  lifetime  of  the  testator, 
either  by  destroying  it  himself,  or  ordering  its  de- 
struction in  his  presence,  or  by  making  anothei  \ 
subsequently,  which  of  itself  annuls  the  former  if  i 
inconsistent  with  it.  When  interlineations  or 
erasures  are  made  in  anv  instrument  of  this  kind, 
notice  of  the  same  should  be  made  before  the  sig- 

152 


FORMS  ANn  EXPLANATIONS. 


I 


I 


$6000  to  the  American  Board  of  Foreign  Mis- 
eiros,  located  in  the  same  City. 

^7000  to  the  Fi^e  Department  Fund,  in  the 
rsame  Ci^y. 

i^t  i-5  mj  toil^  that  all  the  rest  and  residue  of 
my  real  estate  b3  sold  at  public  auction  within 
eighteen  raonths  after  my  decease,  or  as  soon 
[hereafter  ps  my  executors  shall  deem  most  expe- 
dient that  the  best  price  may  be  obtained  there- 
for, and  that  the  proceeds  thereof  be  placed  with 
my  personal  estate,  and  subject  to  the  same  dis- 
position. 

J  gbe  an^  bcrjucat!)  the  sum  of  three  thou- 
sand dollars  to  my  Executors,  to  be  equally  di- 
vided between  them,  in  full,  for  all  services  in 
the  matter  of  the  execution  of  this  my  last  will 
and  testament. 

J  git)C  axxb  bcrjueati)  all  the  rest  and  residue 
of  my  estate  to  my  three  sons,  Samuel,  Jackson, 
and  Charles,  to  be  equally  divided  between  them. 

I  hereby  nominate  and  appoint  Hugh  Brady, 


of      th^  i 
real    es-  j 

tatfl      to  ! 
be    eoli    I 


t 


Bequest 
to  exec- 


Final di«  i 
position 
of       the 
residue. 


Execn- 

lors 
named. 


ig&tionft. 


natures  are  taken.  We  have  already  remiarked, 
that  the  provisions  of  a  will  should  be  clearly  de- 
fined. It  would  seem  that  the  instrument  might 
always  be  made  so  plain  and  explicit  as  to  pre- 
vent such  differences  of  opinion  and  such  litiga- 
tions as  often  arise,  but  in  practice  it  is  found 
otherwise;  some  of  the  longest  and  most  trying 
litigations  arise  even  from  those  which  weie  sup- 
posed to  be  very  siuiple  and  carefully  drawn. 

•  The  Court  expressly  established  with  juris- 
diction over  the  proof  of  wills,  or  to  dire<^t  and 
control  the  executors  and  administrators  of  es- 

jtates,  is  the  Surrogate's  Court  for  each  County, 

'or  the  County  Court,  which  in  some  Counties  ol 
too  small  a  population  for  an  additional  oiHcer  to   ♦•"uri  or 
attend  to  these  duties   only,  exercises  the  same     court. 

j  powers  as  the  Surrogate  does  in  those  Counties 


Sufo- 
gate's 


■Tsf 

il 


/« 


FORMS  AND   EXPLANATIONS. 


1 


clause. 


-|-5 


I 


William  Toby,  and  Henry  Warren,  the  Executors 
of  this  my  Last  Will  and  Testament,  and  revoke  all 
other  and  former  wills  made  and  executed  by  me. 
Jn  toitiKSS  twlicuof,  I  have  hereunto  set  my 
hand  and  seal  this  sixteenth  day  of  April,  onej 
thousand  eight  hundred  and  fifty-one.       ^^^^^ 

PHILIP  SLOAN.     I 


Signed,  sealed,  published,  declared,  and 
acknowledged,  by  the  above  named 
testator,  to  be  his  last  will  and  testa- 
ment, in  our  presence,  and  we  each, 
at  his  request,  and  in  his  presence, 
and  in  the  presence  of  each  other, 
subscribe  our  names  as  witnesses. 

Wm.  Hyde, 
75  Bleecker  street,  N,  Y.  City, 

Henry  Ford, 
16  Fifth  Avenue,  N.  Y.  City. 

George  Hagar, 
13  Twelfth  street,  N.  Y  City. 


variety 

of 
Fonna. 


for  which  that  officer  is  appointed.  Before  this 
Court  wills  are  proved,  and  under  its  direction 
recorded,  and  their  provisions  carried  out  and  ac- 
counts rendered  and  settled.  Wills  not  in  writing 
are  void,  unless  made  by  a  soldier  in  actual  ser- 
vice,  or  by  a  mariner  at  sea.  The  executors 
have  no  power  to  act,  except  to  pay  funeral  ex- 
penses, until  the  will  has  been  proved  before  the 
Surrogate  of  the  County,  and  ''letters  testamen- 
tary "V^^^^^^^Y)  g^a^^^^d  ^^^^  ^y  *^^  SuJTOgate. 
The  positions  of  families  are  so  varied,  and 
the  wishes  of  testators  so  diverse,  that  it  is  im- 
possible  to  give  in  a  single  example,  an  adequate 
idea  of  the  forms  which  Wills  may  assume,  or  of 
the  provisions  they  may  contain.  The  above,  how- 
ever,  is  sufficient  to  show  the  design  and  scope  if 
the  instrument. 


J 


151 


FORMS  AND   EXPLANATIONS. 


Assignment  to  pay  Debts. 

OTo  all  to  toljom  tl)esc  prest^nU  sljall  come: 

I,  Alexander  Bird,  of  Rochester,  New-York,  mer- 
j  chant,  send  greeting  : 

iDl)erea0  I  am  indebted  unto  Everett  Hal- 
stead  of  Syracuse,  in  the  sum  of  six  thousand 
dollars,  lawful  money,  &c.,  and  unto  John  Pen- 
don,  of  Auburn,  in  the  sum  of  one  thousand  dol- 
lars,  each  of  sai  1  sums  of  money  being  loaned  to 
me.  NoiD  knotn  'U,  that  I,  the  said  Bird,  for  and 
towards  the  satisfaction  of  the  said  sums  of  mo- 
ney, and  for  divers  other  good  causes  and  consid- 
erations, have  granted,  assigned,  bargained,  and 
sold,  and  by  these  presents  do  freely  and  abso- 
lutely grant,  assign,  bargain,  and  sell  unto  the 
said  Halstead  and  Pendon,  all,  and  all  manner  of 
goods,  chattels,  debts,  moneys,  and  all  other  things, 
of  me,  the  said  Bird,  whatsoever,  as  well  real  as 
personal,  of  what  kind,  nature,  or  quality  soever. 
QLo  i)avt  anb  to  l)olb  the  same,  and  every  part  and 


112.  The  above  is  a  simple  form  of  an  assign- 
ment, sufficient,  however,  to  illustrate  the  object 
intended.  Here  the  creditors,  two  in  number,  are 
made  the  assignees,  and  all  the  property  of  the 
debtor  is  delivered  up  for  the  payment  of  his 
debts,  with  the  understanding  that  the  overplus 
shall  be  returned ;  and  for  such  return  he  has  a 
right  of  action.  In  most  assignments,  a  return  of 
the  overplus  is  expressly  provided  for  by  an  addi- 
tional clause.  The  assignment  is  not  always 
made  to  the  creditors  directly,  but  often  to  other 
and  disinterested  persons,  who  dispose  of  it,  sub- 
ject  to  modifications  and  provisions  there  intro- 

duced. 

i  Such  assignments  are  made  only  when  the 
assignor's  circumstances  are  failing,  or  his  suc- 
cess doubtful,  and  when  the  suspicion  of  creditors 


I 


II 


155 


Assign 
ment 


Crcdife- 
ors. 


A  8»ign» 
meiit  W 

pay 
Debts. 


r 


FORMS  AND   EXPLANATIONS. 


parcel  thereof,  unto  them  the  said  flalstead  and 
Pendon,  their  executors,  administrators,  and  as- 


signs  forever. 


3n  mlncBB  taljcrcof,  1  have  hereunto  set  my 
hand  and  seal  this  17th  day  of  April,  one  thou- 
sand eight  hundred  and  fifty-one. 


ALEXANDER  BIRD. 


H 


witaMi   Witness,  ) 

Isaac  Hart.       \ 

Ai-tioles  of  ADprenticesliip. 

Cljis  Jnbcnturc   tUilncssctI),    that   William 
Jones,  now  aged   fifteen  years,  by  and  vvith   the! 
consent  of  his  mother,  Martha  Jones,  hath  volun-j 
tarily,  and  of  his  own  free  will  and  accord,  put 
and  bound  himself  apprentice  unto  Jackson  Hyer, 
of  the  City  of  New- York,  jeweller,  to  learn  the 


Parties. 


Two- 
thdrl 
Act. 


or  his  own  fears  seem  to  demand  it.     The  assign- 
ment is  not  generally  of  any  particular  advantage 
to  the  assignor,  except  to  show  that  he  has  hon- 
estly given  up  all  his  property  to  his  creditors,  he 
being  still  liable  to  them  for  the  balance  if  there 
is   any ;   but  there   is   a   method  of  procedure  in 
which  the  assignment   entirely  frees  the  debtoi 
from  such  balance  for  ever;  and  although  insol. 
vent,  he  really  begins  the  world  of  business  egain 
unincumbered.       This    provision    is    2alled    the, 
*'  Two- Third  Act,"  taking  its  name  from  the  con-t 
dition,  that  two-thirds  of  the  creditors  or  those  to 
whom  two-thirds  of  the  debts  are  due,  shall  join 
with  him  in  a  petition  for  a  discharge.     The  un-i 
fortunate  are  thus  enabled  to  continue  business, ! 
notwithstanding  the  opposition  of  a  few  inexora-' 
ble  creditors. 


156 


FORMS  AND   EXPLANATIONS 


artj  trade,  and  mystery  of  the  business  of  working 
and  manufacturing  the  precious  metals,  and  as 
an  apprentice  to  serve  from  this  date  for  and 
during,  and  until  the  full  end  and  term  of  six 
years  next  ensuing,  during  all  of  which  time  the 
said  apprentice  his  master  faithfully,  honestly, 
land  industriously  shall  serve,  his  secrets  keep,  all 
lawful  commands  every  where  readily  obey,  and 
at  all  times  protect  and  preserve  the  goods  and 
property  of  his  said  master,  and  not  suifer  or  al- 
low any  to  be  injured  or  wasted  :  he  shall  not  buy, 
sell,  or  traffic  with  his  own  goods,  or  the  goods 
of  others,  nor  be  absent  from  his  said  master's 
service  day  nor  night  without  leave,  and  in  all 
I  things  behave  himself  as  a  faithful  apprentice 
ought  to  do  during  the  said  term :  '^iib  the  said 
master  shall  use  and  employ  the  utmost  of  his 
endeavors  to  teach  or  cause  him  the  said  appren- 
tic-^v  to  be  taught  or  instructed  in  the  art,  trade, 
and  mystery  aforesaid. 

^nb   for  the  true  performance  of  all  and  sin- 


Term 


Cove- 
nan  ta 


113.  Articles  of  Apprenticeship,  in  New  York,   ^vv 

'  ilea 

and  in  several  other  States,  can  be  executed  by 
minors  who  may  bind  themselves  by  their  own 
free  will,  with  the  consent  either  of  their  parents, 
guardians,  the  overseers  of  the  poor,  two  justices 
or  a  judge,  to  a  term  of  service  as  clerk,  appren- 
tice or  servant,  limited  to  the  period  of  their 
minority.  Such  consent  should  be  signified  in 
writing  upon  the  back  of  the  indenture,  or  by 
certificate  at  its  close  by  the  person  entitled  to 
execute  the  same. 

Tne  County  Superintendent  of  the  Poor,  in 
the  several  counties,  may  bind  out  minors  who 
are  sent  to  the  county  poor  houses,  or  who  are  or 
shall  become  chargeable  to  such  county,  to  be 
clerks,  apprentices,  or  servants  for  a  term  limited 
to  the   period   of  their   minority  ;    such    binding 


ren- 
ship 


Minora 


I'oor 
Hen::* 


••''^Tfr»i*-tii'liBiYrrtfn'air*'"iii''-Ti'  fi«fr^ 


^^^ 


fm^}-.-%^i'^y'''^"""*'"''"'''""''f"™'"^''"' 


M 


FORMS  AND  EXPLANATIONS 


■n 


I 


gular  the  covenants  and  agreements  aforesaid,  the 
said  parties  bind  themselves  each  unto  the  other 
firmly  by  these  presents. 

Jn  U)itnc6S  roljcrcof,  the  parties  aforesaid  have 
hereunto  set  their  hands  and  seals  the  first  day 
of  May,  one  thousand  eight  hundred  and  fifty-one. 


WILLIAM  JONES.     r^^^.M^ 


I 


rit^ 


.vi54^i< 


JACKSON  HYER. 


'i7^\^ 


Witnesa. 


Sealed  and  delivered  in  the  pre- 
sence of 

Norman  Judson. 
I  do  hereby  consent  to  and  appiove  the  bind- 
ing  of  my  son  as  above  mentioned. 

MARTHA  JONES. 


! 


c 


If 

ii  (I 


Autho- 
rity and 


Educa- 
tion. 

Partner- 
■hip. 

Obj«<]^ 


shall  be  as  effective  as  when  it  is  voluntaiily  don 
by  the  minor  himself,  with  the  consent  of  his 
guardian.  The  persons  to  whom  such  minois 
are  bound,  are  supposed  to  exercise  the  same  au- 
thority and  care  over  them,  as  would  have  been 
allowed  or  required  of  the  parent.  The  provisions 
of  the  Indenture  often  enjoiu  attentioQ  to  the 
education  of  the  apprentice. 

114.  Partnership  is  the  association  of  two  or 
more  persons  for  a  specified  purpose,  in  which 
they  have  a  common  interest,  and  assume  a  com- 
mon responsibility.  The  object  to  be  secured  is  a 
union  of  capital,  responsibility,  and  interest.  Men 
do  not  always  possess  the  means  requisite  to  carry 
on  their  favorite  employments,  and  when  they  do, 
there  is  often  an  unwillingness  to  risk  all  their 
resources  in  a  single  enterprise,  with  a  possibility, 

15H       " 


Articles 


I 


UnatD  all  men  bg  tl)e0e  presents,  that   we,  ! 

Henry  West  and  James  Strong,  of  the  City  of  , 

Buff'alo,   have  joined,  and  by  these   presents  do    copj,t. 
join  themselves  to  be  copartners  together  in  the  «^«^^^ 

j  art  or  trade  of  binding  books,  and  all  things  thereto 

'  belonging,  under  the  partnership  name  and  style 
of  "West  and  Strong,"  for  and  during,  and  until 
the  full  end  and  term  of  five  years  from  the  first 

I  day  of  May,  one  thousand  eight  hundred  and 
fifty.one ;   and  to  that  end  and  purpose,  he,  the 

.said  West,  hath,  at  the  day  of  the  date  of  these 
presents,  delivered  in  as  stock  the  sum  of  three 
thousand  dollars,  to  be  used,  laid  out,  and  ex- 
pended  in  common  between  them,  for  the  mana  ge- 
ment  of  the  said  trade  of  book-binding,  to^  their 
mutual  benefit  and  advantage,  and  the  said  Strong 
has  also  contributed  the  sum  of  three  thousand 
dollars  at  the  same  date  for  the  same  purposes, 
^ub  it  is  agreed  between  the  said  parties  to 


-\ 


and  in  these  times,  frequent  probability,  of  failure 
The  variety  of  a  business  often  requires   several 
persons  to  conduct  its  various  departments  suc- 
cessfully ;  and  thus  by  partnership,  the  duties, 
risk,  responsibility,  and  interest  are  divided  among 
the  partners  to  the  greater  security  and  success 
of  the  business.     Partnerships  exist  among  mer- 
chants, mechanics,  farmers,  stage  proprietors,  etc., 
and  they  may  be  limited  to  one,  two,  or  more 
years,  or  subject  to  dissolution  at  the  pleasure  of 
the  parties.     The  respective  portions  of  the  joint 
capital  furnished  by   the    parties,   may  be    un- 
equal,   and    thus    the    profits    will  be   unequal, 
unless  the  particular  skill  and  attention  of  one 
or  more  of  the  parties   is  to  be   considered   as 
'an   equivalent    for  a  certain  amount  of  capital. 
j  It  sometimes  happens  that  a  partner  has  nothing 

I 


Advan- 
tages. 


Term. 


Joint 
CapitaL 

TTn- 

eqoai 


159 


'  -tuTitrrti  fOS'itiilUUitefiMfi'tffit'-'^ 


.  ir* 


1 


FORMS  AND  EXPLANATIONS 


Capital. 


these  presents,  and  the  said  copartners  each  for 
himself,  respectively,  and  for  his  own  particular 
part,  and   for  his  executors  and   administrators, 
doth  severally,  and  not  jointly,  covenant,  promise, 
and  agree  to  and  with  the  other  partner,  his  ex- 
ecutorif  and  administrators,  by  these  presents  in 
mann(3r  and  form  following,  (that  is  to  say,)  That 
they  the  said  copartners  shall  not  nor  will  at  any 
time  hereafter  during  the  said  term  of  five  years, 
separately  use,  exercise,  or  follow  the  trade  of 
book-binding  aforesaid,  or  any  other  trade  w^hal. 
soever,  during  the  said  term,  but  shall  and  will, 
if  they  shall   so  long  live,  do  their,  and  each  of 
their  best  endeavors  during  said  term,  in  and  by 
all   means   possible,  to  the  utmost  of  their  skill, 
power,  and  cunning,  for  their  joint  interest,  profit, 
benefit,   and    advantage,    and    truly    employ   the 
said  capital  stock  of  six  thousand  dollars,  and  the 
increase  thereof,  which  shall  be  added  thereto,  in 
the  trade  of  book-binding  aforesaid,  without  any 
sinister  intentions  or  fraudulent  endeavors  what- 


the 
Artieles. 


Business 
of  the 
Firm. 


to  contribute  beside  his  attention,  influence,  and 
skill. 

It   is   customary   to  execute    Articles   which 
A  copy  of  shall  express  the  terms  or  conditions  of  the  Co- 
partnership  at  the  time  of  its  formation,  and  each 
party  is   entitled  to  a  copy  of  the  same.     The 
operations  of  the  firm  should  be  clearly  defined 
and  limited  in  the  Articles  of  Copartner^^hip,  and 
when  one  partner  transcends  these  limits  either 
by  purchases,  drafts,  or  otherwise,  the  other  part- 
ners  are  not  responsible,  but  when  such  opera- 
tions are  in  the  usual  course  of  the  business,  the 
partners  are  individually  responsible.     As  a  gen- 
eral  rule,  each  partner  is  liable  for  all  partner- 1 
ship  engagements  to  the  extent  of  his  private  or , 
individual,  as  well  as  partnership  property ;  there ' 
is,  however,  an  arrangement  called  Special  Part- 


hiMk'ul 


9p#ciaJ 

Fartr.er- 
■hips. 


160 


r 


FORMS  AND  EXPLANATIONS. 


soever :  and  also,  that  they  the  said  copartners 
shall  and  will  from  time  to  time,  and  at  all  times 
hereafter  during  the  said  term,  pay,  bear,  and 
discharge  equally  between  them,  the  rent  of  the 
shop  which  they'^the  said  copartners  shall  hire  for 
the  purposes  of  the  trade  aforesaid,  and  without 
any  encroachment  of  or  upon  the  said  $6000 
And  that  ail  such  gain,  profit,  and  increase,  that 
shall  come,  grow,  or  arise  for  or  by  reason  of  the 
said  trade  and  joint  occupancy  as  aforesaid,  shall 
be  from  time  to  time,  during  the  said  term, 
equally  divided  between  them  :  And  also,  that  all 
such  loss  as  shall  happen  to  the  said  trade  by  bad 
debts,  ill  materials,  &c.,  without  fraud,  shall  be 
paid  and  borne  equally  and  proportionally  be- 
tween them. 

2lnb  further,  it  is  agreed  by  and  between  the 
said  copartners,  parties  to  these  presents,  that 
there  shall  be  had  and  kept  from  time  to  time, 
and  at  all  times  during  the  said  term,  perfect, 
just,  and  true  books  of  account,  wherein  each  of 


Ex- 
pen  Ml. 


Pro- 
visions. 


nership,  in  which,  by  the  contribution  of  a  speci- 
fied  sum,  and  by  conformity  to  certain  legal 
requirements,  a  partner  shall  not  be  liable  far- 
ther than  to  the  extent  of  his  contribution  ;  but 
he  shall  not  actively  engage  in  the  partnership 

business. 

The  requirements  are  principally  publication 
and  filing  of  a  notice  of  the  firm,  names  of  part- 
ners, terms,  amount  of  contribution,  etc.  Special 
Partnerships  are  quite  common,  and  serve  for 
investments  where  the  profits  may  be  equal  to 
what  they  would  be,  if  the  partner  were  in  actual 
business,  without  risking  more  than  the  sum  con- 
tributed. 

A  Special  or  Silent  Partner  is  one  who  invests 
in  the  concern  a  certain  sum,  and  receives  profits   Partnsi 
arising  therefrom  without  any  use  being  made  of 


Adviit- 
taget. 


Sileni 


!     .  . 
larismg 


X6\ 


.J»5  5 


« 


FORMS  AND   EXPLANATTO VS. 


n 


I 


f 


Books  of 
Aaooint. 


Cftation 


0«t«nsi- 

iU  Part- 

ssrs. 


the  said  copartners  shall  duly  enter  and  set  down, 
as  well  all  money  by  them  received,  paid  out, 
and  expended  in  and  about  the  said  trade  on  ac- 
count of  the  said  partnership,  and  all  matters 
whatever  pertaining  thereto,  which  said  books 
shall  be  used  in  common  between  the  said  co- 
partners, so  that  either  of  them  may  have  access 
thereto  without  any  interruption  of  the  other,  and 
also  that  they  the  said  copartners  shall  once  in 
three  months  at  least,  make,  yield,  and  render 
each  to  the  other,  or  to  the  executors  of  each 
other,  a  true,  just,  and  perfect  account  of  all  pro- 
fits and  increase  made,  or  losses  sustained  by 
them,  or  either  of  them,  in  the  business  of  said 
concern,  and  the  same  account  so  made  shall  and 
will  clear,  adjust,  settle,  &c.,  pay  each  unto  the 
other  at  the  time  of  making  such  account,  the 
equal  share  belonging  to  him,  so  made  as  afore- 
said, and  at  the  end  of  the  term  of  five  years 
aforesaid,  or  other  sooner  determination  of  these 
presents,  (by  death  or  otherwise,)  they,  the  said 


his  name,  without  his  interference  in  the  busi- 
ness, and  without  his  incurring  any  liability  far- 
ther than  to  the  extent  of  his  contribution  or  in- 
vestment; an  agreement  thus  made  is  termed 
Special  Partnership. 

A  Silent  Partner  should  not  allow  his  name  to 
appear  in  the  ordinary  business,  not  even  desig- 
nated by  the  term  Go.  or  Company,  for  by  so 
doing  he  would  be  considered  an  ostensible  Part- 
ner, and  therefore  become  liable  for  the  debts  of 
the  firm.  Those  who  are  represented  to  the  world 
as  partners  with  their  consent,  will  be  considered 
as  such,  and  no  private  arrangements  will  control 
liability,  unless  the  partner  has  complied  with  the 
terms  of  Special  Partnership. 

115.  As  a  source  of  information  for  the  general 

Student,     additional    to    the    Commentaries    on! 

( 

W2 


i 


FORMS  AND   EXPLANATIONS. 


Fintl    ! 


copartners,  each  to  the  other,  or  in  case  of  the 
'  death  of  either  of  them,  the  surviving  party,  to 
i  the  executors  and  administrators  of  the  party  de- 
'  ceased,  shall  and  will  make  a  true,  and  just,  and 
final  account  of  all  things  as  aforesaid,  and  divide 
the  profits  aforesaid,  together  with  the  capital 
sum  at  first  contributed  and  not  then  expended,        ^^ 
and  also  all  stock,  whether  of  paper,  skivers,  or  Account 
tools,  will  equally  divide,  share  and  share  alike, 
when  all  partnership  debts  have  been  paid,  and 
all  liabilities  satisfied. 

Jn  toitness  rolicrcof,  we  hereunto  set  our  hand^ 
and  seals  this  twenty-fifth  day  of  May,  one  thou- 
sand  eight  hundred  and  fifty-one. 

HENRY  WEST. 


JAMES  STRONG. 


I 


In  the  presence  of 

Wm.  AVeeks. 


! 


M* 


I 


American  Law,   (Art.  102),  he  is  referred  to  the  , 

Constitution  of  the  United   States ;    and  to  the  ^Ge^.er^ 
residents  of  each  State,  a  knowledge  of  their  Con- 
stitution and  Revised  Statutes  is  of  great  import- 
These  constitute  the    foundation  of  our 


ance. 


political  fabric,  and  whoever  understands  them 
will  be  able  to  comprehend  the  modification  of 
cases  arising  under  them.  To  the  students  of 
Law,  several  treatises  have  been  dedicated,  and 
we  may  select  as  they  have  selected.  It  will  Coum 
not  be  expected  that  we  shall  further  specify  Re»dm, 
subjects,  or  mention  particular  treatises,  other- 
wise, our  suggestions  might  seem  to  assume  a 
professional  character.  These  outlines,  however, 
for  obvious  reasons,  should  be  distinct  and  famil- 
iar to  every  citizen  of  the  United  States. 


I 


i 


■h 


163 


"■•l"-kJ*^™'J.';-*?' 


'  ^ 


11 


GLOSSARY. 


Abatement,  an  allowance  or  discount.  ,  Bill  of  Entry,  a  list  of  goods  entered 


Acx^EPTANCE,  at.  engagement  to  pay  a 
draft  or  order,  by  writing  across  it 
the  word  "Accepted"  and  also  the  sig- 
natui-e  of  the  acceptor. 
AccxDUNT,  a  statement  of  the  debits  and 
credits  of  a  transactioa 

Administrators,  persons  appointed 
to  manage  the  estate  of  an  intes- 
tate. 

Ad-valorem,  according  to  the  value  of 
aiticles,  not  by  weight,  number,  or 
package. 

Adventure,  consignment  or  shipment 
of  goods  to  be  sold  on  commission. 

Advices,  mercantile  intelligence. 

Aliened,  sui rendered. 

Appurtenances,  things  naturally  con- 
nected. 

Arbitration,  the  investigation  of  a 
cause  by  an  official  person,  or  by 
persons  mutually  chosen  by  tiie  con- 
tending parties. 

Assessments,  tiixes  levied  on  property. 

Assets,  resouicea 

Attorney,  one  who  acts  for  another ;  a 
lawyer. 

Assignment,  a  transfer  of  right,  title, 
or  property. 

Assignee,  the  pei*9on  to  whom  an  as- 
signment is  made. 

Attachment,  a  legal  claim  on  pro- 
perty. 

Award,  judgment  rendered  by  arbi- 
trators. 

Balance,  the  difference  between  the 
footings  of  an  account. 

Banker,  one  who  acts  as  agent  for  re 
ceipts  and  payments  of  money. 

Barter,  to  exchange  one  commodity 
for  another. 

Bequeath,  to  leave  by  will. 

Behoof,  profit,  advantage,  benefit 

Bill,  applied  U)  notes,  di-afo,  &c 


at  the  custom-house. 
Bill  of  Exchange,  an  order  addressed 
to  some  person  residing  at  a  distance, 
dh'ecting  him  to  pay  a  sum  of  money 
in  consideration  of  value  received. 

When  a  commercial  intercom-se  li 
caiTied  on  between  two  cities,  as  for 
example,  New  York  and  London,  it 
will  always  happen  that  there  are 
parties  in  each  city,  who  are  indebt- 
ed to  persons  in  the  other :  Thus,  A 
at  New  York,  owes  Y  of  London, 
£300;  and  Z  of  London  owes  B  of, 
New  York  £200 ;  and  C  of  the  same 
place  £100.  Now,  if  A  buys  of  B 
an  order  on  Z  for  the  payment  of 
£200,  and  of  C  an  order  on  Z  for  the 
payment  of  £100,  and  remits  thesp 
two  orders  to  Y  of  London,  the  lat- 
ter receives  of  Z  the  £300  due  to 
him;  and  the  respective  claims  are 
adjusted  in  a  simple,  safe,  and  expe- 
ditious manner. 

Bill  of  Lading,  a  wi-itten  statement 
of  goods  sliipped,  signed  by  the 
master  of  the  vessel 

Bill  of  Sale,  a  contract,  or  instrument 
by  which  a  person  transfers  his  in- 
terest in  goods  and  chattels  to  ano- 
ther. 

Bills  Payable,  one's  own  notes  or  ob- 
ligations in  circulatioa 

Bills  Receivable,  other  men's  noteft 
or  obligations  in  our  possession. 

Blank  Credft,  permission  given  by 
one  house  to  another,  to  di*aw  on  it 
at  pleasure,  to  a  ceitain  extent 

Bona  Fide,  in  good  Mtk 

Bond,  an  obligatioa 

Bottomry  Bond,  moitgage  or  lien  up- 
on a  vessel 

Broker,  one  who  effects  exchangei?  in 
money,  stocks,  <fea 


■■wsafflij^ 


164 


GLOSSARY. 


1 


Brokerage,  tlie  charges  of  a  broker. 

(capital,  stock  invested. 

Oheck,  an  order  for  the  payment  of  mo- 
ney ;  usually  addressed  to  a  banker. 

Circular  Letter,  a  printed  notice  of 
a  house,  in  relation  to  its  business. 

Clearance,  custom-house  certificate  or 
;  permission  to  siiil,  given  by  the  col- 
*      lector. 

Commission,  per-centage   allowed   for 

the  sale  or  pm-chase  of  goods. 
!  Compound,  to  settle  by  mutujil  conces- 
sion or  loss. 

Conditions,  tenns  of  contract,  articles 
of  agreement 


Discou>T,    an    allowance    mraie    for 

prompt  payment,  rate  of  loss. 
Dishonoi  eu  a  bill  is  said  to  be  dit- 

honored,  when  payment  or  accept 

ance  is  refused. 
Dividends,  shares  in  trade,  gains. 
Draft,  a  bill  drawn  on  a  person  for 

money,  bill  of  exchange,  check. 
Drawer,  the  maker  of  a  bill 
Drawee,  tlie  person  on  whom  a  bill  \a 

drawn. 
Drawback,  an  allowance  made  on  the 

fulfilment  of  ceitaiu  conditions. 
Duplicate,  a  copy  of  a  ti*ansaction  or 

account 


Consideration,  the  material  cause  of  a  Duty,  a  government  tax  on  goods 


contract 

'Consignee,  a  person  to  wbom  goods 
ai'e  sent  to  be  sold  on  commission. 

Consignment,  (See  Adventure). 

Consul,  an  agent  of  government  at  a 
foreign  port. 

Contra,  on  the  other  side,  opposite. 

Conveyance,  a  ti'ansfer  of  property. 

Co-partnership,  the  union  of  two  or 
more  persons  in  trade. 

Covenants,  terms  of  agreement,  condi- 
tions. 

Course  of  Exchange,  the  current  or 
variable  price  which  is  paid  in  one 
country,  for  bills  drawn  on  indi- 
viduals in  another ;  it  is  beloic,  at,  or 
above  par  (See  Par  of  Exchange). 

Credit,  to  enter  on  the  right  hand  side 
of  an  account 

Creditor,  the  person  to  whom  a  debt 
is  owed. 

Customs,  duties  levied  on  goods. 

CusTOM-HousE,  an  ofiice  for  government 
agents,  who  collect  duties  on  goods. 

Debenture,  custom-house  certificate, 
which  entitles  the  shipper  to  a  di'aw- 
back  on  goods  exported. 

Debit,  to  enter  on  the  left  hand  side  of 
an  account. 

Debtor,  a  person  who  owes  another. 

Default,  neglect,  refusal 

J\:mand,  the  act  of  calling  for  pay- 
payment 

Demise,  to  gi-ant  an  intf^rest 

Demurrage,  allowance  per  day  for  the 
detention  of  a  ves**el  in  port,  beyond 
the  time  agi'eed  upon. 

Devise,  grant  of  land  to  take  effect  af- 
ter tlie  death  of  the  grantor. 


ex- 
ported or  impoited. 

Effects,  a  part,  or  all  of  one's  proper- 
ty, mone} ,  stocks,  I'eal  estate,  <fcc. 

Encumbrances,  claims,  things  which 
prevent  absolute  possession. 

Endorse,  or  Indorse,  to  wiite  one's 
name  on  the  back  of  an  insti'ument 

Endorsee,  the  person  to  whom  a  bill 
is  endorsed. 

Enrolment,  registei 

Enseal,  to  place  a  seal 

Entry,  record  of  a  transaction. 

Eviction,  forcible  removal  from  pos- 
session. 

Estate,  property  under  control 

Exchange,  payment  or  receipt  of  mo- 
ney in  one  country,  for  a  receipt  or 
payment  of  its  equivalent  in  another; 
a  place  where  banlvcrs,  brokers,  and 
merchants  assemble. 

Execute,  to  make  binding,  to  cany  in- 
to eftect 

Executor,  a  pei*son  appointed  to  exe- 
cute or  cai'iy  into  effect  the  will  of  a 
testator. 

Face,  the  amount  for  which  a  biU  is 
drawn. 

Failure,  insolvency,  or  inability  to  pay 
debts. 

P'avor,  a  bin  is  said  to  be  m  favor  of  the 
person  to  whom  it  is  made  payable. 

Feudal,  pertaining  to  estates  in  the 
middle  ages. 

Filed,  recorded  in  an  office  for  general 
use. 

Finance,  pertaining  to  public  revenue. 

Firm,  a  company  of  two  or  more  per- 
sons in  trade ;  a  house  in  copartner- 
ship trade. 


ir)/> 


I 


.1 


GLOSSARY. 


Freight,  auin  paid  for  tlie  ti'Jinsporta-' Mortgagee,  one  to  whom  a  mortgage^ 
tion  of  goods ;  the  cargo  of  a  vessel. '     is  given.  | 

Grace,  days  ot\  time  allowed  by  Liw  Money,  circulating  medium.  1 

for  the  payment  of  a  bill  after  the  N^et  Proceeds,  the  balance  after  all  ejt-  \ 
date  on  which  it  falls  due ;  in  the       penses  are  paid,  gain  upon  the  whole. 
United  States,  it  is  usually  3  days.    Net  Weight,  remainder  after  all  de- 

Ouarantee,  a  pledge  to  fullil.  |     ductions  ai*e  made. 

Honored,  dratts  are  said  to  be  honor-  Notary  Public,  an  officer  appointed  to 


ed,  when  they  iu*e  accepted  or  paid. 

Hereditaments,  things  which  may  be 
inherited. 

Importation,  ac*  of  bringing  goods  in- 
to a  country. 

Indemnity,  security  against  loss. 

Indefeasible,  not  to  be  divei*ted  or 
defeated. 

Indorse,  (fee.  (See  Endorse.) 

Indenture,  wi'itten  instrument 

Infant,  a  person  under  twenty-one 
years  of  age. 

Instalments,  sums  to  be  p:iid  at  cer 
tain  times. 

Insurance,  secmity  against  losses. 

Intestate,  one  who  dies  witliout  leav- 
inii:  a  will. 

Investment,  disposition  of  money. 

Jointly,  in  company  with  others,  not 
singly. 

Judgment,  decree  of  a  competent 
court 

Jurisdiction,  right  to  control 

Lawful  Money,  that  which  is  current 

Lease,  a  contract  granting  possession. 

Leasehold,  property  held  under  a 
lease. 

liEDGER,  a  book  which  exhibits  a  sum- 
mary of  one's  business. 

Let,  prevention,  hindrance. 

Letter  of  CREDrr,  one  which  entitles 
a  person  to  receive  funds  on  the  cre- 
dit of  another. 

License,  a  privilege  to  cairy  on  a  cer- 
tain business. 

LLABnj'HES,  debts  of  an  individual,  and 
also  notes  or  other  claims  against 
him. 

Liquidation,  adjustment  and  payment 
of  debts. 

Manifest,  an  invoice  of  a  ship's  cai'go. 


attest  deeds  and  other  wiitings,  and 
before  whom  bills  are  protested  for 
non-payment 

Note,  a  written  insb'ument  which  ac- 
knowledges a  debt,  and  promises 
payment 

Obligation,  indebtedness,  an  act  which 
binds  a  person  to  some  performance. 

Obligee,  the  pei"3on  to  whom  another 
is  bound. 

Obligor,  the  individual  bound. 

Office,  a  place  for  the  transaction  of 
business. 

Order,  a  written  request  to  pay  or  de- 
liver something. 

Package,  a  bundle  of  goods. 

Par  of  Exchange,  denotes  the  legal 
value  of  money  in  one  country,  ex- 
pressed in  the  currency  of  another. 
The  old  par  value  of  a  poimd  ster- 
hng  was  $4,444',  but  under  the  7iew 
par^  the  value  of  a  pound  sterUng  is 
fixed  at  $4.84' :  when,  therefore,  ex- 
change on  England  is  said  to  be  at 
9  per  cent  premium  on  tlie  old  ba- 
sis, it  is  only  at  par  on  the  new,  thus 
§4.44'  X  1.09=:S4.84'.  Exchange  on 
England  is  therefore  above  or  helom 
par  as  it  rates  above  or  below  the 
nominal  premium  of  9  per  cent 

Partition,  division. 

Partnership,  (See  Co-Pai-tnership). 

Parole,  word  of  promise. 

Payee,  one  to  whom  money  is  payable. 

Policy,  an  insti'ument  or  writing  given 
by  insm-ers,  to  make  good  the  thing 
insm-ed. 

Premium,  sum  paid  for  insurance,  sums 
allowed  on  the  pa3rment  of  bills,  the 
per  cent  above  par. 

Price  Current,  market  price. 


Maturity,  the  time  when  a  bill  falls  Pro  Forma,  a  document  (an  imaginaiy 
due.  Account  Sales)  sent  to  absent  par- 

Merchandise,  articles  of  trade,  goods.  ties,  designed  to  give  information  in 
I  Mlvt,  a  place  for  coining  money.  reference    to    the    prices,   chai-ges, 

Moetqagor,  one  who  gives  a  mort-  commission,  Ac,  oh  some  paiticulai 
gage.  I     coinmo(hty. 


GLOSSAB.Y. 


m 


the 


PosTiNQ,    enteiing    accounts 

Ledger. 
Promissory  Note,  one  which  promises 

the  payment  of  sometliing. 
Protest,  a  writing  which  declares  a 

certain  bill  was  not  paid  when  it  fell 

due. 

Quarantlve,  a  period  of  time,  valuable 
in  length,  durirg  wliich  a  ship  or 
vessel  supposed  to  be  infected  with 
cei-tain  diseases,  is  not  allowed  to 
conmiunicate  freely  with  the  shore. 

Receipt  a  written  acknowledgment 
for  having  received  something. 

Registry,  the  act  of  entering  upon  re- 
cord. 

Remittance,  bills  or  money  sent  from 
one  house  to  another. 

Renewed,  payment  of  a  bill  prolonged. 

Resources,  property,  money,  stocks,  etc. 

Schedule  a  statement  of  any  business 
affan 

Seize,  to  take  possession  of  by  autho- 
rity. 

SiGNA'njRE,  the  name  of  a  person  m  liis 
own  hand-writing. 

Silent  Partner,  p  161, 

Set  of  Exchange.  thi*ee  bills  of  the 
same  tenor  and  date,  (p.  101)  for- 
wai'ded  by  different  conveyances,  to 
prevent  failure,  when  one  is  paid 
thfc  others  are  void. 


I 


Shipme-nt,  adventure,  (p.  61).  ! 

Sight,  or  at  night,  signifies  that  a  blDj 

is  to  be  paid  wlien  presented. 
Solvent,  able  to  pay  all  debts. 
Staples,  the  chief  produce. 
Stamp,  a  mark.* 
Stock,   capital    invested   in    trade,   a 

name  v.hich  represents  the  per&onin 

bu^iness. 
Sundries,  more  than  one. 
Surety,  security,  one  bound  for  the 

payment  of  another's  debts. 
Tare,  allowimce  for  weight  of  boxes, 

bags,  (fee. 
Teller,  one  employed  to  receive  and 

pay  money. 
Tenant,  the  per^;on  who  occupies  the 

property  of  aiioUier. 
Tenements,  things  which  may  be  held 
Title,  right  of  possession. 
Tonnage,  the  capacity  of  a  vessel  for 

carrying  goods ;  her  burthen. 
Trustee,  one  onti-usted  with  property 

for  the  benefit  of  others. 
IjNDERWRrrERS,   pcTsous   who    insure 

property  against  loss. 
Usury,  illegal  interest. 
'  Vice  Versa,  the  reverse.  ^ 
Voucher,  a  document  which  serves  as 

evidence. 
Wharfage,   chs /ges   for   the    use   of 

wharf. 


SCHEDULE  OF  STAMP  DUTIES. 

ON  AND  AFTER  MAECH  2,  1867. 


1.  It  is  thie  duty  of  the  maker  of  an  instrument  to  affix  the  stamp 
thereto,  and  to  cancel  the  same  in  the  manner  required  by  law. 
Proper'cancellation  is  essential :  he  shall  thereupon  Avrite  tlie  initials 
of  Ms  name,  and  tlie  proper  date,  so  that  the  same  may  not  again  be 
used  ;  and  for  a  failure  to  do  so  he  shall  forfeit  the  simi  of  $50.  The 
same'penalty  is  imposed  upon  the  person  who  accepts,  negotiates,  or 
pays  any  bill  of  exchange,  draft,  or  order,  or  promissory  note,  unless 
tlie  same  sliall  be  properly  stamped  ;  and  in  case  the  bill  or  order  is 
drawn  in  a  foreign  country,  and  payable  in  the  United  States,  the 
penalty  is  $200.  It  is  not  lawful  to  record  an  instrument  of  any  kind 
unless  properly  stamped.  Such  instrument,  or  copy  thereo^,  is  null 
and  void  until  the  defect  is  supplied  according  to  law. 


\ 


\m 


167 


s* 


i 


SCHEDULE  OF  STAMP  DUTIES. 


I 


2.  Tlie  collector  of  Internal  Kevenue  is  empowered  to  decide  wliat 
the  proper  stamp  sliall  be  uj)on  any  instrument  about  to  be  issued. 
Any  person  who  has  an  interest  in  any  instrument,  improperly  or 
insufficiently  stamped,  and  proves  to  the  satisfaction  of  the  collector 
that  it  was  issued  witliout  any  wilful  design  to  defraud  tlie  United 
States  of  tlie  duty,  and  within  twelve  montlis  after  the  issuing 
thereof,  shall  upon  payment  of  the  proper  stamp  have  the  same  affixed 
by  the  collector,  who  shall  note  the  same  upon  the  margin  of  the 
instrument,  with  the  date  of  his  doing  so :  and  the  instrument  shall 
be  valid  as  if  properly  stamped  when  made. 

3.  When  two  or  more  persons  join  in  the  execution  of  an  instru- 
ment, the  stamp  affixed  maybe  cancelled  by  either  of  them,  and  when 
more  than  one  signature  is  affixed  to  the  same  paper,  one  or  more 
stamps  may  be  affixed  tliereto,  representing  the  whole  amount  of  such 
stamp  required  for  such  signatures. 


Accidental  Injuries  to  persons, 
tickets  or  contracts  for  insur- 
ance against,  exempt. 

All  Affidavits  exempt. 

Agreement  or  contract,  other 
than  domestic  or  inland  bills  of 
lading.  For  every  sheet  or 
piece  of  i)aper  upon  which 
either  of  the  same  shall  be 
written,  5  cts. 

If  more  than  one  appraisement, 
agreement,  or  contract  shall  be 
written  upon  one  sheet  or  piece 
of  paper,  5  cts.  for  every  ad- 
ditional appraisement,  agree- 
ment, or  contract. 

Agreement,  renewal^  of,  same 
stamp  as  original. 

APi'RAiSEMENT  of  value,  damage, 
or  other  purpose,  each  sheet  of 
paper,  5  cts. 

Assignment  of  a  Lea  e,  same 
stamp  as  original,  and  addi- 
tional stamp  upon  the  value  or 
consideration  of  transfer,  ac- 
cording to  the  rates  of  stamps 
on  Deeds.     (See  Conveyance.) 

Assignment  of  Policy  op  In- 
surance, same  stamp  as  origi- 
nal.   (See  In.-urance.) 


Assignment  of  Mortgage,  same 
stamp  as  that  required  upon  a 
mortgage  for  the  amount  re- 
maining unpaid.  (See  Mort- 
gage.) 

Bank  Check,  draft,  or  order  for 
any  sum  of  money  drawn  upon 
any  bank,  banker,  or  trust  com- 
pany, at  sight  or  on  demand,  2 
cts. 

When  drawn  upon  any  other 
person  or  persons,  companies  or 
corporations,  for  any  gum   ex- 

I      ceeding  $10,  at  sight  or  on  de- 

j      mand,  2  cts. 

'  Bill  OF  Exchange  (inland),  draft, 
I  or  order  for  tlie  payment  of  any 
sum  of  money  not  exceeding  r 
$100,  otherwise  than  at  sight  or 
on  demand,  or  any  promissory 
note,  or  any  memorandum, 
check,  receipt,  or  other  written 
or  printed  evidence  of  an 
amount  of  money  to  be  paid  on 
demand  or  at  a  time  designated, 
for  a  sum  not  exceeding  $100, 
5  cts.  Notes  under  SI 00  exempt. 
And  for  every  additional  $1 00, 
or  fractional  part  thereof  in  ex- 
cess of  $100,  5  ct8. 


168 


I 


Bill  of  ExcHA^GE  (foreign),  or 
letter  of  credit,  drawn  in,  but 
payable  out  of,  the  United 
States,  if  drawn  singly,  same 
rates  of  duty  as  inland  bills  of 
exchange  or  promissory  notes. 

If  drawn  in  sets  of  three  or 
more — for  every  bill  of  ea<5h  set, 
where  the  sum  made  payable 
shall  not  exceed  $100,  or  the 
equivalent  thereof,  in  any  for- 
eign currency,  2  cts. 

And  for  every  additional  $100, 
or  fractional  part  thereof  in  ex- 
cess of  $100,  2  cts. 
[The  acceptor  or  acceptors  of 
any  Bill  of  Exchange,  or  order 
for  the  payment  of  any  sum  of 
money  drawn,  or  purporting  to 
be  drawn,  in  any  foreign  coun- 
try, but  payable  in  the  United 
States,  mAist  before  paying  or 
accepting  the  Bame,  place  there- 
upon a  stamp  indicating  the 
duty.] 

Bill  of  Lading  or  receipt  (other 
than  charter  party)  foi  any 
goods,  merchandize,  or  effects 
to  be  exported  from  a  port  or 
place  in  the  United  States  to 
any  foreign  port  or  place,  10  cts. 

Bill  of  Lading  to  any  port  in 
British  North  ximerica  does  not 
require  a  stamp. 

Bi^.L  of  Lading,  domestic  or  in- 
land, requires  no  stamp. 

Bill  of  Sale  by  which  any  ship 
or  vessel,  or  any  part  thereof, 
shall  be  conveyed  to  or  vested 
in  any  other  persv)n  or  persons, 
when  the  cr^nsideration  shall 
not  exceed  $500,  50  cts. 

Exceeding  $500  and  not  ex- 
ceeding $1,000,  $1.00. 

Exceeding  $1,000,  for  every 
additional  amount  of  $500,  or 
fractional  part  thereof,  50  cts. 

Bond  for  indemnifying  any  person 
for  the  payment  of  any  sum  of 
money,  when  the  money  iilti- 
mately  recoverable  thereupon 
is  $1,000  or  less,  50  cts. 


When  in  excess  of  $1,000,  for 
each  $1,000  or  fraction,  50  cts. 

Bond  for  the  execution  or  perfor- 
mance of  duties  of  office,  $1.00. 

Bond,  personal,  for  security  for 
the  payment  of  money.  (See 
Mortgage.) 

Bond  of  any  description,  other 
than  such  as  may  be  required 
in  legal  proceedings,  or  used  in 
connection  ^vitli  mortgage  deeds, 
and  not  otherwise  charged  in 
this  Schedule,  25  cts. 

Bond  or  note  accompanying  a 
mortgage  requires  no  stamp  if 
the  mortgage  is  stamped.  But 
one  stamp  is  required  on  those 
papers,  which  may  be  placed  on 
either,  and  must  be  the  highest 
rate  required  upon  either. 

Broker's  Notes.  (See  Con- 
tract.) 

Certificates  of  Measurement 
or  w^eights  of  animals,  wood, 
coal,  or  hay,  exempt. 

Certificates  of  Measurement 
of  other  articles,  5  cts. 

Certificates  of  Stock,  25  cts. 

Certif'Cates  of  Profits, or  any 
certificate  or  memorandum 
showing  an  interest  in  property 
or  accumulations  of  any  incor- 
porated C(>m])any,  if  for  a  sum 
not  less  than  $10,  and  not  ex- 
ceeding $50,  10  cts. 

Exceeding  $50,  and  not  ex- 
ceeding  $1,000,  25  cts. 

Exceeding  $1,000,  for  every 
additional  $1,000,  or  fractional 
part  thereof,  25  cts. 

Certificate.  Any  certificate  of 
damage  or  otherwise,  and  all 
other  certificates  or  documents 
issued  by  any  port  warden, 
marine  surveyor,  or  other  per- 
son acting  as  such,  25  cts. 

Certificate  of  Deposit.    If  for 
a  sum  not  exceeding  SlOO,  2  ctg. 
For  a  sum  exceeding  $100  5 
cts. 


I 


169 


M 


1  •:  III 


t 


SCHEDULE   OF    STAMP    DUTIES. 


Certificates  of  Loan,  in  wliicli 
there  shall  appear  any  written 
or  printed  evidence  of  an 
amount  of  money  to  be  paid  on 
demand,  or  at  a  time  designated 
are  subject  to  stamp  duty  as 
"  l^romissory  notes." 

Certificate  of  any  other  de- 
scription, 5  cts. 

Charter,  renewal  of,  same  stamp 
as  on  original  instrument. 

CiiA'  TER  Pai.ty  for  the  charter 
of  any  sliip,  or  vessel,  or  steam- 
er, or  any  letter,  memorandum, 
or  other  writing  relating  to  the 
charter,  or  any  renewal  or  trans- 
fer  thereof,  if  the  registered 
tonnage  of  such  ship  or  vessel 
or  steamer  does  not  exceed  150 
tons,  $1.00. 

Exceeding  150  tons,  and  not 
exceeding  300  tons,  $8.00. 

Exceeding  300  tons,  and  not 
exceeding  GOO  tons,  $5.00. 

Exceeding  600  tons,  $10.00. 

Check.    Bank  Check,  2  cts. 

Contract.  Broker's  note,  or 
f  memorandum  of  sale  of  any 
i  goods  or  merchandise,  exchange, 
real  estate,  or  property  of  anv 
kind  or  description  issued  by 
brokers  or  persons  acting  as 
such,  for  each  note  or  memo- 
randum of  sale,  10  cts. 

Bill  or  memorandum  of  the  sale 
or  contract  for  the  sale  of  stocks, 
bands,  gold  or  silver  bullion, 
coin,  promissory  notes,  or  other 
securities  made  by  brokers, 
banks,  or  bankers,  either  for 
the  benefit  of  others,  or  on 
their  own  account,  for  each 
$100,  or  fractional  part  thereof, 
of  the  amount  of  such  sale  or 
contract,  1  ct. 

Bill  or  memorandum  of  the  sale 
or  contract  for  the  sale  of  stocks, 
bonds,  gold  or  silver  bullion, 
coin,  promissory  notes,  or  other 
securities,  not  his  or  their  own 
property,  made  by  any  person, 
hrm,  or  company  not  paying  a 


special  tax  as  broker,  bank,  or 
banker,  for  each  $100,  or  frac- 
tional part  thereof,  of  the 
amount  of  such  sale  or  con- 
tract, 5  cts. 

Conti^act,  and  renewal  of,  (See 
Agreement.) 

Conveyance,  deed,  instrument, 
or  writing,  whereby  any  lands, 
tenements,  or  other  realty  sold 
shall  be  granted,  assigned,  trans- 
ferred, or  otherwise  conveyed  to 
or  vested  in  the  purchaser  or 
purchasers,  or  any  otlier  person 
or  persons,  by  his,  her,  or  their 
direction,  when  the  considera- 
tion or  value  does  not  exceed 
$500,  50  cts. 

When  the  consideration  ex- 
ceeds $500,  and  does  not  ex- 
ceed $1,000,  $1.00. 

And  for  every  additional  $500, 
or  fractional  part  thereof,  in  ex- 
cess of  $1,000,  50  cts. 

Conveyance  —  the  acknowledg- 
ment of  a  deed,  or  proof  by  a 
witness,  exemnt. 

CoN\"EYANCE — Certificate  of  rec- 
ord, exempt. 

Confirmatory  Deed,  exempt. 
Credit,   Letter  of.      Same   as 
Foreign  Bill  of  Exchange. 

CusTOM-HousE  Entry.  (See  En- 
try.) 

CusTOM-HousE  Withdrawals. 
(See  Entry.) 

Deed.  (See  Conveyance — 
Trust  Deed.) 

Draft.  Same  as  Inland  Bill  of 
Exchansfe. 

Duplicate  papers,  which  can 
be  used  as  evidence,  require 
the  same  stamp  as  the  origi- 
nal. Transfer  of  stock  on  the 
books  of  any  bank  or  company 
require  5  cent  stamp.  (See 
Agreement.) 

Endorsement  of  negotiable  pa- 
per, exempt. 

Entry  of  any  goods,  wares,  or 
merchandise    at    any    custom- 


SCHEDULE   OF    STAMP  DUTIES, 


170 


house,  either  for  consumption 
or  warehousiDg,  not  exceeding 
$100  in  value,  25  cts. 

Exceeding  $100,  and  not  ex- 
ceeding $500  in  value,  50  cts. 
Exceeding  $500  in  value, $1.00. 

Entry  for  the  withdrawal  of  any 
goods  or  mercliandise  from 
bonded  warehouse,  50  cts. 

Gauger's  Returns,  exempt. 

Indorsement  upon  a  stamped 
obligation  in  acknowledgment 
of  its  fulfillment,  exempt. 

Insurance  (Life).  Policy,  when 
the  amount  insured  shall  not 
exceed  $1,000,  25  cts. 

Exceeding  $1,000,  and  not  ex- 
ceeding $5,000,  50  cts. 
Exceeding  $5,000,  $1.00. 

Insurance  (Marine,  Inland,  and 
Fire).  Policies,  or  renewal  of 
the  same,  if  the  premium  does 
not  exceed  $10,  10  cts. 

Exceeding  $10,  and  not  ex- 
ceeding $50  25  cts. 

Exceeding  $50,  50  cts. 

AssignmoDt  of  policy  of  insur- 
ance, same  stamp  as  original 
instrument. 

Insurance,  contracts,  or  tickets 
against  accidental  injuries  to 
persons,  exempt. 

Lease,  agreement,  memorandum, 
or  contract  for  the  hire,  use,  or 
rent  of  any  land,  tenement  or 
portion  thereof,  where  the  rent 
or  rental  value  is  $300  per  an- 
num or  loss,  50  cts. 

Where  the  rent  or  rental 
value  exceeds  the  sum  of  $300 
per  annum,  for  each  additional 
$200,  or  fractional  part  thereof 
in  excess  of  $300,  50  cts. 

Assignment  of  lease,  same 
stamp  as  original  instrument, 

I  and  the  value  or  consideration 
of  the  transfer  at  the  same  rate 
as  the  deed.  (See  Conveyance.) 

Letters    of    Administration. 
(See  P  obate  of  Will.) 

Letter  of    Credit.     Same  as 
Bill  of  Exchange,  fore'gn. 


Manifest  for  custom-house  entry 
or  clearance  of  the  cargo  of 
any  ship,  vessel,  or  steamer,  for 
a  foreign  port : 

If  the  registered  tonnage  c  f 
such  ship,  vessel,  or  steamf^r 
does  not  exceed  300  tons,  $1.00. 

Exceeding:  300  tons,  and  not 
exceeding  600  tons,  $3.00. 

Exceeding  600  tons,  $5.00. 
[These  provisions  do  not  apply 
to  vessels  or  steamboats  piling 
between  ports  of  the  United 
States  and  British  North  Amer- 
ica.] 

Measurer's  Returns,  exempt. 

Memorandum  of  Sale,  or  brok- 
er's note.    (See  Contract.) 

Mortgage  of  Lands,  estate,  or 
property,  real  or  personal,  herit- 
able, or  movable  whatsoever,  a 
trust  deed  in  the  nature  of  a 
mortgage,  or  any  personal  bond 
given  as  security  for  the  pay- 
ment of  any  definite  or  certain 
sum  of  money  exceeding  $100 
and  not  exceeding  $500,  50  cts. 

Exceeding  $500,  and  not  ex- 
ceeding $1,000,  $1.00. 

And  for  every  additional  $500, 
or  fractional  part  thereof  in  ex- 
cess of  $1000,  50  cts. 

Upon  each  assignment  or 
transfer  of  a  mortgage,  a  stamp 
duty  equal  to  that  upon  a 
mortgage  for  the  amount  re- 
maining unpaid. 

Order  for  payment  of  money,  if 
the  amount  is  $10  or  over,  2  cts. 

Passage  Ticket  on  any  vessel 
from     a    port  in    the    United 
States  to  a  foreign  port,  not  ex-  ' 
ceeding  $35,  50  cts.  [ 

Exceeding   $35,  and  not  ex-  1 
ceeding  $50,  $1.00. 

And  for  every  additional  $50, 
or  fractional  oart  thereof,  in  ex-  \ 
cess  of.  $50,  $1.00.  ; 

To    ports  in    British    North  i 
America,  exempt. 

Pawner's  Checks,  5  cts. 


171 


I 


lV)WEii  OF  Attorney,  for  the  sale 
or  transfer  of  any  stock,  bonds, 
or  scrip,  or  for  tlie  collections 
of  any  dividends  or  interest 
tliereon,  25  cts. 

Power  of  Attorney  or  proxy 
fv>T  voting"  at  any  eleciion  for 
officers  of  any  incorporated 
company  or  society,  except  re- 
ligions, charitable,  or  literary 
societies,  or  public  cemeteries, 
10  cts. 

Power  of  Attorney  to  receive 
or  collect  rent,  25  cts. 

Power  of  Attorxey  to  sell  and 
convey  real  estate,  or  to  rent  or 
lease  the  same,  $1.00. 

Power  of  Attorney  for  any 
otlier  purpose,  50  cts. 
[Power  of  Attorney  or  other  pa- 
pers relating  to  applications  for 
bounties,  arrearages  of  pay,  or 
pensions,  or  receipts  therefor, 
require   no    stamp.      See    also 

Vv^ ARRANT  OF   ATTORNEY.] 

Probate  of  Will,  or  letters  of 
administration,  where  the  es- 
tate and  effects  for  or  in  re- 
spect of  which  ?uch  probate  or 
letters  of  administration  ap- 
plied for  shall  be  sworn  or  de- 
clared not  to  exceed  the  value 
of  $2,000,  $1.00. 

Exceeding  $2,000,  for  every 
additional  .$1,003,  or  fractional 
pnrt  thereof,  in  excess  of  $2,000, 
50  cts. 

Estate  not  exceeding  $1,000, 
exempt. 

Promissory  Note.  (See  Bill 
OF  Exchange,  Inland.) 

Deposit  note  to  mutual  in- 
surance companies,  when  policy 
is  subject  to  duty,  exemi^t. 

Renewal  of  a  note  subject  to 
same  duty  as  an  original 
note. 

Protest  of  note,  bill  of  exchange, 
acceptance,  check,  or  draft,  or 
any  marine  protest,  25  cts. 

Qutt-Clatm  Deed  to  be  stnmped 
as  a  conveyance,  except  when 


given  as  a  release  of  a  mort- 
gage by  a  mortgagee  to  the 
mortgagor,  in  which  case  it  is 
exempt ;  but  if  it  contains  cove- 
nants MAY  be  subject  as  an 
agreement  or  contract. 

Receipt  for  satisfaction  of  anv 
mortgage  or  judgment  or  de- 
cree of  any  court,  exempt. 

Receipts  for  the  payment  of  any 
sum  of  money  or  debt  due,  or 
for  a  draft  or  other  instrument 
given  for  the  payment  of  money, 
exempt. 


Receipts  for  the  delivery  of  pro- 
perty, exempt. 

Renewal  of  Agreement,  con- 
tract, or  charter,  by  letter  or 
otherwise,  same  stamp  as  origi- 
nal instrument. 

Sheriff's  Return  on  writ,  or 
other  process,  exempt. 

Trust  Deed,  made  to  secure  a 
debt,  to  be  stamped  as  a  mort- 
^age. 

Warehouse  Re:  eipts,  exempt. 

Wakrant  of  A'.torxey  accom- 
panying a  bond  or  note  requires 
no  stamp  if  the  bond  or  note  is 
stamped. 

Weigher's  Returns,  exempt. 

Writs  and  other  process  in  any 
criminal  or  ot'aer  suits  corn- 
nienced  by  the  United  States  or 
any  State,  exempt. 

^Official  documents,  instru- 
ments and  ])apers  issued  by  of- 
ficers of  the  U.  S.  Government, 
exempt. 

^Official  instruments,  docu- 
ments, and  papers  issued  by  the 
officers  of  any  State,  coimty, 
town,  or  other  municipal  cor- 
poration, in  the  exercise  of  func- 
tions strictly  belonging  to  thc^m 
in  their  ordinary  governmental 
or  municipal  capacity,  exempt 


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A  Common  School  Grammar.  * 

Being  an  Introduction  to  the  Analytical  and  Practical 
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« Bullions^  Analytical  and  English  Grammar  has  been  in  constant  use  IDr  several 
rears  in  this  and  the  other  Public  Schools  of  the  city.    It  stands  the  test  of  use. 
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^AMES  A.  Page,  MasUr  of  J>wight  School, 

-  We  heartily  concur  in  the  above.^'-S.  W.  Mason,  Master  of  Eliot  School. 

D.  C.  Brown,  Master  of  Boicdoin  School.  | 
Joshua  Bates,  MasUr  of  Brimmer  Schovl^ 

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.arly  two  years  with  success.    We  find  them  an  improvement  on  those  previously^ 
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"We  take  great  pleasure  in  calling  tha  attention  of  teachers  and  students  to  this 

truly  excellent  book.     Both  the  plan  and  execution  of  the  whole  are  equally  adnm- 

ble     It  is  not  a  milk-and-water  compilation,   without  principles  and  without 

emonstration.   It  contains  the  elements  of  the  science  in  their  proper  integrity  and 

roportions.    Its  author  is  a  learned  man  and  a  practical  instructor,  as  tho  author 

f  every  school-book  should  be.    The  style  is  a  model  for  a  text-book,  combining  U 

*  bigh  degree,  perspicuity,  precision,  and  vivacity.    In  a  word,  it  is  the  very  LcsJ 

ikMnentary  work  on  Astronomy  with  which   we  are  acquainted." -Co^^nec^icui 

Common  School  Journal, 

•^This  is  a  compact  treatise  of  320  pnges,  containing  tho  elements  and  most  of  th# 
hnportant  fiicts  of  tho  science  clearly  presented  and  systematically  arran-ed.  It  li 
verv  finely  illustrated.  It  is  worthy  of  a  careful  examination  by  all  who  wUh  «• 
wcuro  the  best  Wst  books."— C>Vio  Journal  ofmucation. 


SHELDON  b   COMPAWS  COLLEGE  TEXT-BOOKS. 


•lEUDON  &    COMPANY'S    COLLEGE   TEXT-BOOKS. 


8 


KEETEL'S  FKENOH  METHOD. 

A  Kew  Method  of  Lear ^ ting  the  French  Language^ 

By  Jean  Gustave  Keetels,  Professor  of  French  and 
German  in  the  Brooklyn  Polytechnic  Institute.     13mo..  . 

1^  Key  to  the  New  Method  in  French. 

By  J.  G.  Keetels.    1  vol.    12mo, 

"  I  havft  examined  Keetels'  New  Method  of  Learning  the  French  Language,  an^ 
0nd  it  admirably  adapted  for  conveying  a  thorough  knowledge  of  the  French  Ian 
tfuage.    It  i3  an  easy  and  sure  method  of  both  writing  and  speaking  French  witk' 
accuracy  and  elegance."— Daniel  Lynch,  S.  J.,  Director  of  Studies  in  Gonzaga 
ColUge,  Washington, 

**The'New  Method  of  Learning  the  French  Language,*  by  Professor  Keetels, 
Appears  to  be  exceedingly  well  adapted  as  an  introduction  into  the  study  of  French. 
It, id  emphatically  a  practical  book,  and  bears  the  mark  that  it  has  resulted  from  tha 
•uthor's  own  experience  in  teaching.  I  shall  take  pleasure  in  soon  giving  it  the  test 
pf  a  trial  in  my  own  Institute."— Oswald  Seidenstickeb,  Principal  of  the  Commer'^ 
cial  and  Clasbdcal  Institute,  Philadelphia. 

**  I  have  examined  several  books  designed  for  pupils  studying  the  French  language, 
and  among  them  Keetels'  'New  Method  of  the  French.'  Tlie  last  work  I  consider 
superior  to  any  other  which  I  have  examined,  and  shall  use  it  in  my  classes  as  tka 
bebt  text-book  upon  the  subject."— S.  A.  Faueand,  Trenton,  N.  J. 

PEISSNES'S  GERMAN  GRAMMAE. 

^  Coinpaviitive  English-German  Grammar. 

Based  on  the  affinity  of  the  two  languages.  By  Prof. 
ELLiS  Peissner,  late  of  the  University  of  Munich,  and 
of  Union  College,  Schenectady.     New  edition.    316  pp., . 

<^  Prof.  Peissner's  German  Grammar  has  been,  from  its  first  publication,  and  \t 
now,  used  as  a  text-book  in  this  College,  and  has  by  the  teachers  here,  as  in  many 
other  Institutions,  been  esteemed  a  superior  work  for  the  end  to  be  subserved  by  it, 
in  attaining  a  knowledge  of  the  elements  of  the  German  language.  I  cordially  rec 
rmmend  it  to  the  attention  and  use  of  such  American  Academies  and  Colleges  as  ara 
designed  to  give  instruction  tn  the  German  language."— L.  P.  IIickok,  Pr&sideivi 
r^ion  College,  2i,  Y, 

COMSTOCK'S  SEEIES. 

Slt*^fnn  of  Xafnral  FhilosopJiy. 

Re-written  and  enlarged,  including  latest  diseovenes. 
Fully  illustrated,  . 

Elements  of  Chemistry. 

Re- written  1861,  and  adapted  to  the  present  state  of  tho 
.Science,    »*•...•,...•...         ♦    .* 


OLNET'S  GEOGPuAPHY. 

Mney^s  Geography  and  Atlas. 

Revised  and  improved,  by  the  addition  on  the  Maps  ot 
the  latest  information  and  discoveries.    New  Plates  and 
Woodcuts,  Atlas,  23  Maps.   Geography,  18mo,  304  pages, 
These  favorite  text-books,  of  which  more  than  a  million  have  been 
idld,  are  kept  up  to  the  times  by  the  publishers,  who  add  the  latest 
gt^ographical  information  on  the  large  and  beautiful  Maps  and  in  tha 
Ti'sxt-Books,  so  as  to  make  them  worthy  of  the  claim  that  they  aj-i^ 
the  best  works  for  the  study  of  Geography  now  published. 

PALMEE^S  BOOK-KEEPING. 

Palmer^s  Fractlcal  Book-Keeping. 

By  Joseph  H,  Palmer,  A.M.,  Instructor  in  New  York 
Free  Academy.     12mo.     167  pages,     ........  ., 

Blanks  to  Do.  (2  numbers,  Journal  and  Ledger),  each      ,  \ 

Key  to  Do •    • 

This  work  is  adopted  by  the  Boards  of  Education  of  the  cities  of 
New  York  and  Brooklyn,  where  it  is  generally  used  in  schools  and 
recommended  by  teachers.  It  is  also  recommended  by  accountants 
of  TDrominent  commercial  firms,  and  the  Press. 

Wliatehfs  Elements  of  Logic. 

By  Richard  Whately,  D.D,,  Archbishop  of  Dublin. 
New  revised  edition,  with  the  Author's  last  Additions. 
Large  12mo.    484  pages, 

'This  work  (Elements  of  Logic:>  has  long  been  our  text-book  here.  The  style  In 
which  you  have  published  this  new  edition  of  so  valuable  a  work,  leaves  nothing  to 
M  desired  in  regard  of  elegance  and  convenience."— Pro/  Dunn,  Brown  Universiti/. 

•*  Its  merits  are  now  too  widely  known  to  require  an  enumeration  of  them.  Th« 
present  American  edition  of  it  is  conformed  to  the  ninth  English  edition,  which  waa 
revised  by  the  author,  and  which  contains  several  improvement;*  oa  tho  lorj«e| 
issues."— A^or^  Americcin  Revi&iD 

Jlliatelifs  Elements  of  Rhetoric. 

Comprising  an  Analysis  of  the  Laws  of  Moral  Evidenco 
.      And  of  Persuasion,  with  Rules  for  Argumentative  Com- 
position  and  Elocution.     New  edition,  revised  by  tho 
1  utb.or.    Large  12mo,    546  pages, 


£HEL1>0N   <fe    (X)MPANY*S   COLLEGB  TEXT-BOOKt, 


••The  Elements  of  Rhetoric  has  become  so  mnch  a  standard  work  that  \t  might 
seem  superfluous  to  speak  of  it     In  short,  we  should  not  dream  of  teaching  a  Col 
lego  class  from  any  other  book  on  Rhetoric.     Communion  with  Whately*s  mind 
would  improve  any  mind  on  earth." — Preahyterian  Quarterly  Review. 

The  above  are  the  editions  formerly  publislied  by  James  MunroU 
&  Co.,  Boston,  and  tlie  best  in  the  market.    They  are  used  in  all  th 
|;)rinclpal  Colleges  and  Academies  in  the  United  States. 

tlicli^s  Mapping  I^lates.    (In  one  volume,  quarto.) 

Designed  for  Learners  in  Geography ;  being  a  collection 
of  Plates  prepared  for  Delineating  Maps  of  the  World, 
and  Counties  forming  its  principal  subdivisions,  viz.,  1. 
The  World.  2.  United  States.  3,  North  America,  4 
South  America.  5,  A  State.  6.  Mexico  and  Guatemala, 
7.  Great  Britain  and  Ireland.  8.  Europe.  9.  Southern 
Europe.  10.  Germany.  11,  Africa.  12,  Asia.  13.  At- 
lantic Ocean.    14.  Pacific  Ocean     By  Geo.  W.  Fitch,    . 


NOEMAL  MATHEMATICAL  SEEIES. 

Mtoddard's  Juvenile  Mental  Arithmetic. 

^j  John  F.  Stoddard,  A.M.  For  Primary  Schools.  72  pp., 

Stoddard's  American  Intellectual  Arithmetic. 

An  extended  work,  for  Schools  and  Academies.    172  pp.,    . 

Stoddard^ s  liudiments  of  Arithmetic. 

This  work  presents  such  parts  of  Arithmetic  as  are  most 
useful  in  ordinary  business  computations.     192  pp.,    .     . 

dtoddard^s  New  I*ractical  Arithmetic. 

Embracing  methods  and  forms  of  modern  business,  with 
Analyses  and  many  varied  Examples.    192  pp.,     .... 

Sioddard^s  Complete  Arithmetic. 

Being  in  one  book,  the  pages  of  the  New  Practical  Arith- 
metic in  the  order  of  that  book,  and  120  pages  of  additional 
matter,  suited  for  classes  in  High  Schools.  A  full  course  in 
one  book, 

Kei/  to  Stoddard^s  Comjylete  AHthmetic^    .    .    . 
J^fffhods  of  Teaching  and  Key  to  Intellec.  Arith. 

Srhuyler^s  Higher  Arithtnetic.    (For  Colleges),    .    . 

Stoddard  S  IIenMe\^  Ele7nentary  Algehra. 

By  John  F.  Stoddard,  A.M.,  and  Prof.  W.  D,  HeisBXE, 


r?e:^5^SS^=ilSS  isS^[i« 


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